According to the Marshall County Board of Realtors, February residential sales increased 21.2% year-over-year (Y/Y) from 52 to 63 closed transactions. Sales increased 21.2% from January. Sales are up 8.57% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: February listings (243) decreased 0.4% from January and decreased 7.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.9 months, down from 4.7 months in January and down from 5.1 months in February 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 February was $224,900, an increase of 6.5% from one year ago and a decrease of 4.1% 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 61 days on the market (DOM), 7 days slower than in February 2023.
Forecast: February sales were consistent with the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 63 sales for the month, while actual sales were 63 units. Sales are down 3.1% year-to-date.
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.
