According to the Athens-Limestone Association of Realtors, February residential sales in the area increased 39.8% year-over-year (Y/Y) from 113 to 158 closed transactions. Sales increased 38.6% from January. Sales are up 28.91% 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: February listings (690) increased 0.6% from January and increased 39.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.4 months, down from 6.0 months in January and the same as 4.4 months in February 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 February was $322,482, an increase of 4.1% from one year ago and an increase of 2.6% from January. 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 February averaged 40 days on the market (DOM), 1 day faster than February 2023
Forecast: February sales were 27 units, or 20.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 131 sales, and actual sales were 158 units. ACRE forecast a total of 252 sales in the area year-to-date, while there were 272 actual sales through February, a difference of 7.7%.
New Construction: The 82 new homes sold represent 51.9% of all residential sales in the area in February. Total sales increased 82.2% year-over-year. The median sales price in February was $322,482, an increase of 0.2% from January and an increase of 2.1% 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.
