Sales: According to the Marshall County Board of Realtors, July residential sales increased 3.2% year-over-year (Y/Y) from 95 to 98 closed transactions. Sales decreased 24.0% from June. Sales are up 2.5% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: July listings (218) increased 13.5% from June and increased 49.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.2 months, up from 1.5 months in June and up 1.5 from 0.9 months in July 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 July was $221,000, a decrease of 6.0% from one year ago and a decrease of 7.9% from June. 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 July averaged 26 days on the market (DOM), 20 days faster than July 2021.
Forecast: July sales were 6 units, or 6.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 104 sales for the month, while actual sales were 98 units. ACRE forecast a total of 654 sales in the area year-to-date, while there were 735 actual sales through July, a difference of 12.3%.
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.