Sales: According to the Marshall County Board of Realtors, April residential sales decreased 26.3% year-over-year (Y/Y) from 114 to 84 closed transactions. Sales increased 23.5% from March. Sales are down 35.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: April listings (195) decreased 4.9% from March and increased 59.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.3 months, down from 3.0 months in March and up from 0.7 months in April 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in April was $240,000, an increase of 4.4% from one year ago and an increase of 3.2% from March. 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 April averaged 48 days on the market (DOM), 18 days slower than in April 2022.
Forecast: April sales were 7 units, or 8.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 77 sales for the month, while actual sales were 84 units. ACRE forecast a total of 282 sales in the area year-to-date, while there were 258 actual sales through April, a difference of 8.5%.
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.
