According to the Athens-Limestone Association of Realtors, March residential sales in the area decreased 4.3% year-over-year from 184 to 176 closed transactions. Sales increased 11.4% from February. Sales are up 13.4% 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: March listings (725) increased 5.1% from February and increased 50.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.1 months, down from 4.4 months in February and up from 2.6 months in March 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-6 months of supply.
Pricing: The area’s median sales price in March was $318,768, a decrease of 10.2% from one year ago and a decrease of 1.2% from February. 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 March averaged 41 days on the market (DOM), 2 days slower than March 2023.
Forecast: March sales were 2 units, or 0.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 178 sales, and actual sales were 176 units. ACRE forecast a total of 430 home sales in the area year-to-date, while there were 448 actual sales through March, a difference of 4.2%.
New Construction: The 104 new homes sold represent 59.1% of all residential sales in the area in March. Total sales increased 26.8% year-over-year. The median sales price in March was $319,450, a decrease of 0.9% from February and a decrease of 0.2% 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.
