Sales: According to the Marshall County Board of Realtors, February residential sales decreased 47.5% year-over-year (Y/Y) from 99 to 52 closed transactions. Sales decreased 3.7% from January. Sales are down 36.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: February listings (263) increased 5.6% from January and increased 126.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.1 months, up from 4.6 months in January and up from 1.2 months in February 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 February was $211,200, an decrease of 8.2% from one year ago and an increase of 14.7% from January. 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 February averaged 54 days on the market (DOM), 33 days slower than in February 2022.
Forecast: February sales were 14 units, or 20.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 66 sales for the month, while actual sales were 52 units. ACRE forecast a total of 118 sales in the area year-to-date, while there were 106 actual sales through February, a difference of 10.4%.
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.
