Athens-area home sales slow in January amid tight inventory

Sales: According to the Athens-Limestone Association of Realtors, January residential sales in the area decreased 21.1% year-over-year (Y/Y) from 185 to 146 closed transactions. Sales decreased 27.7% from December. Sales are now down 21.1% 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: January listings (177) decreased 5.9% December, and declined 10.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.2 months, up from .9 in December and up from 1.2 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 $298,945, an increase of 19.5% from one year ago and a decrease of 7.9% 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 11 days on the market (DOM), 6 days faster than January 2021. 

Forecast: January sales were 7 units, or 4.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 153 sales, and actual sales were 146 units. ACRE forecast a total of 153 sales in the area year-to-date, while there were 146 actual sales through January, a difference of 4.6%.  

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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.

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