Sales: According to the Marshall County Board of Realtors, May residential sales decreased 13.1% year-over-year (Y/Y) from 107 to 93 closed transactions. Sales increased 10.7% from April. Sales are down 30.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: May listings (194) decreased 0.5% from April and increased 18.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.1 months, down from 2.3 months in April and up from 1.5 months in May 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in May was $249,900, a decrease of 0.1% from one year ago and an increase of 4.1% 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 37 days on the market (DOM), 16 days slower than in May 2022.
Forecast: May sales were 7 units, or 8.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 86 sales for the month, while actual sales were 93 units. ACRE forecast a total of 368 sales in the area year-to-date, while there were 351 actual sales through May, a difference of 4.6%.
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.
