Sales: According to the Athens-Limestone Association of Realtors, January residential sales in the area decreased 32.9% year-over-year (Y/Y) from 146 to 98 closed transactions. Sales decreased 31.5% from December. Sales are down 32.9% 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 (502) decreased 0.2% from December and increased 183.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.1 months, up from 3.5 in December and up from 1.2 in January 2022. 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 January was $311,450, an increase of 4.2% from one year ago and a decrease of 3.6% 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 32 days on the market (DOM), 21 days slower than January 2022.
Forecast: January sales were 7 units, or 6.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 105 sales, and actual sales were 98 units. ACRE forecast a total of 105 sales in the area year-to-date, while there were 98 actual sales through January, a difference of 6.8%.
New Construction: The 43 new homes sold represent 43.9% of all residential sales in the area in January. Total sales decreased 24.6% year-over-year. The median sales price in January was $320,760, a decrease of 7.1% from December and a decrease of 4.2% 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.