Sales: According to the Athens-Limestone Association of Realtors, May residential sales in the area decreased 20.4% year-over-year (Y/Y) from 226 to 180 closed transactions. Sales increased 4.7% from April. Sales are down 19.6% 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: May listings (507) decreased 3.2% from April and increased 112.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.8 months, down from 3.0 in April and up from 1.1 in May 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 May was $323,135, a decrease of 1.2% from one year ago and an increase of 2.2% from April. 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 May averaged 41 days on the market (DOM), 33 days slower than May 2022.
Forecast: May sales were 3 units, or 1.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 177 sales, and actual sales were 180 units. ACRE forecast a total of 706 sales in the area year-to-date, while there were 747 actual sales through May, a difference of 5.9%.
New Construction: The 75 new homes sold represent 41.7% of all residential sales in the area in May. Total sales decreased 16.7% year-over-year. The median sales price in May was $322,990, an increase of 2.2% from April and a decrease of 1.8% 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.
