According to the Marshall County Board of Realtors, September residential sales decreased 31.6% year-over-year (Y/Y) from 95 to 65 closed transactions. Sales decreased 27.8% from August. Sales are down 23.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: September listings (243) increased 2.1% from August and decreased 9.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.7 months, up from 2.6 months in August and up from 2.8 months in September 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 September was $244,500, an increase of 16.5% from one year ago and an increase of 6.3% from August. 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 September averaged 32 days on the market (DOM), 8 days slower than in September 2022.
Forecast: September sales were 24 units, or 27.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 89 sales for the month, while actual sales were 65 units. ACRE forecast a total of 749 sales in the area year-to-date, while there were 706 actual sales through September, a difference of 5.8%.
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.
