According to the Marshall County Board of Realtors, January residential sales decreased 3.7% year-over-year (Y/Y) from 54 to 52 closed transactions. Sales decreased 28.8% from December. Sales are down 3.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: January listings (244) decreased 2.8% from December and decreased 2.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.7 months, up from 3.4 months in December and up from 4.6 months in January 2023. 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 January was $234,450, a decrease of 5.3% from one year ago and a decrease of 2.3% 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 32 days on the market (DOM), 6 days faster than in January 2023.
Forecast: January sales were 4 units, or 6.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 56 sales for the month, while actual sales were 52 units.
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.
