ALABAMA REAL ESTATE JOURNAL

Athens-area home sales decrease 16% in December

Sales: According to the Athens-Limestone Association of Realtors, December residential sales in the area decreased 16.2% year-over-year (Y/Y) from 241 to 202 closed transactions. Sales increased 10.4% from November. Sales are now up 5.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.  

For all of the Athens (Limestone County) housing data, click here.

Inventory: December listings (188) increased 5% November, and declined 30.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in .9 months, down from 1.0 in November and down from 1.1 months in December 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 December was $324,500, an increase of 27.7% from one year ago and an increase of 8.2% from November. 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 December averaged 11 days on the market (DOM), 7 days faster than December 2020. 

Forecast: December sales were 25 units, or 10.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 227 sales, and actual sales were 202 units. ACRE forecast a total of 2,792 sales in the area year-to-date, while there were 2,483 actual sales through December, a difference of 11.1%.  

The Athens Area (Limestone County) Monthly Residential Report is developed in conjunction with the Athens-Limestone Association 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 December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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