Athens-area home sales up 16% year-over-year in January

According to the Athens-Limestone Association of Realtors, January residential sales in the area increased 16.3% year-over-year (Y/Y) from 98 to 114 closed transactions. Sales decreased 31.3% from December. Sales are up 16.3% 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: January listings (686) decreased 1.6% from December and increased 36.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.0 months, up from 4.2 months in December and up from 5.1 months in January 2023. 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 January was $314,400, an increase of 0.9% from one year ago and an increase of 1.7% from December. 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 January averaged 50 days on the market (DOM), 18 days slower than January 2023.

Forecast: January sales were 8 units, or 6.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 122 sales, and actual sales were 114 units. 

New Construction: The 61 new homes sold represent 53.5% of all residential sales in the area in January. Total sales increased 41.9% year-over-year. The median sales price in January was $321,870, an increase of 4.3% from December and an increase of 0.3% 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.