Sales: According to the Marshall County Board of Realtors, December residential sales decreased 30.5% year-over-year (Y/Y) from 105 to 73 closed transactions. Sales decreased 23.2% from November. Sales are down 3.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: December listings (260) increased 0.8% from November and increased 89.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.6 months, up from 2.7 months in November and up from 1.3 months in December 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-6 months of supply.
Pricing: The area’s median sales price in December was $238,000, a decrease of 1.2% from one year ago and an increase of 3.9% 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 32 days on the market (DOM), unchanged from December 2021.
Forecast: December sales were 9 units, or 10.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 82 sales for the month, while actual sales were 73 units. ACRE forecast a total of 1,100 sales in the area year-to-date, while there were 1,176 actual sales through December, a difference of 6.9%.
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.