Sales: According to the Athens-Limestone Association of Realtors, December residential sales in the area decreased 29.2% year-over-year (Y/Y) from 202 to 143 closed transactions. Sales increased 11.7% from November. Sales are down 12.8% 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 (503) decreased 3.6% from November and increased 167.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.5 months, down from 4.1 in November and up from 0.9 in December 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-5 months of supply.
Pricing: The area’s median sales price in December was $323,189, a decrease of 0.4% from one year ago and a decrease of 2.1% 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 20 days on the market (DOM), 9 days slower than December 2021.
Forecast: December sales were 54 units, or 27.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 197 sales, and actual sales were 143 units. ACRE forecast a total of 2,389 sales in the area year-to-date, while there were 2,165 actual sales through December, a difference of 9.4%.
New Construction: The 77 new homes sold represent 53.8% of all residential sales in the area in December. Total sales decreased 2.5% year-over-year. The median sales price in December was $345,380, a decrease of 4.0% from November and a decrease of 0.2% from one year ago.
Click here to view the entire monthly report.
The Athens Area (Limestone County) Monthly Residential Report is developed in conjunction with the Athens-Limestone Association of Realtors to better serve area consumers.
