Sales: According to the Marshall County Board of Realtors, November residential sales decreased 5.0% year-over-year (Y/Y) from 100 to 95 closed transactions, marking five consecutive months of Y/Y loses. Sales decreased 2.2% from October. Sales are up 4.2% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: November listings (156) decreased 10.9% from October and declined 19.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.6 months, down from 1.9 months in October 2021 and November 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in November was $220,000, an increase of 24.7% from one year ago and a decrease of 7.2% from October. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.
Homes sold in November averaged 23 days on the market (DOM), 31 days faster than November 2020.
Forecast: November sales were 9 units, or 8.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 104 sales for the month, while actual sales were 95 units. ACRE forecast a total of 1,230 sales in the area year-to-date, while there were 1,109 actual sales through November, a difference of 9.8%.
Click here to view the entire monthly report.
The Marshall County Residential Monthly Report is developed in conjunction with the Marshall County Board of Realtors to better serve area consumers.
Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period November 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.