Sales: According to the Athens-Limestone Association of Realtors, March residential sales in the area decreased 12.8% year-over-year (Y/Y) from 211 to 184 closed transactions. Sales increased 62.8% from February. Sales are down 25.1% 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: March listings (483) decreased 2.6% from February and increased 205.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.6 months, down from 4.4 in February and up from 0.7 in March 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 March was $307,975, a decrease of 5.2% from one year ago and a decrease of 0.6% from February. 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 March averaged 39 days on the market (DOM), 28 days slower than March 2022.
Forecast: March sales were 23 units, or 14.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 161 sales, and actual sales were 184 units. ACRE forecast a total of 380 sales in the area year-to-date, while there were 395 actual sales through March, a difference of 3.9%.
New Construction: The 78 new homes sold represent 42.4% of all residential sales in the area in March. Total sales decreased 4.9% year-over-year. The median sales price in March was $320,044, an increase of 1.3% from February and a decrease of 6.3% 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.
