Sales: According to the Marshall County Board of Realtors, January residential sales decreased 21.7% year-over-year (Y/Y) from 69 to 54 closed transactions. Sales decreased 26.0% from December. Sales are down 21.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: January listings (249) decreased 4.2% from December and increased 77.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.6 months, up from 3.6 months in December and up from 2.0 months in January 2022. 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 January was $247,450, an increase of 10.0% from one year ago and an increase of 4.0% 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 38 days on the market (DOM), 10 days slower than in January 2022.
Forecast: January sales were 1 unit, or 2.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 53 sales for the month, while actual sales were 54 units. ACRE forecast a total of 53 sales in the area year-to-date, while there were 54 actual sales through January, a difference of 2.4%.
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.