Sales: According to the Marshall County Board of Realtors, January residential sales decreased 24.2% year-over-year (Y/Y) from 91 to 69 closed transactions. Sales decreased 34.3% from December. Sales are down 24.2% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: January listings (140) increased 2.2% from December and 7.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.0 months, up from 1.3 months in December 2021 and 1.4 months in January 2021. 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 January was $225,000, an increase of 13.4% from one year ago and a decrease of 6.6% from December. 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 January averaged 28 days on the market (DOM), 34 days faster than January 2021.
Forecast: January sales were 4 units, or 5.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 73 sales for the month, while actual sales were 69 units. ACRE forecast a total of 73 sales in the area year-to-date, while there were 69 actual sales through January, a difference of 5.6%.
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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.