Marshall County home sales down 7% year-over-year in April

According to the Marshall County Board of Realtors, April residential sales decreased 7.1% year-over-year (Y/Y) from 84 to 78 closed transactions. Sales increased 11.4% from March.  Sales are up 1.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

For all of Marshall County’s housing data, click here.

Inventory: April listings (295) increased 19.0% from March and increased 51.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.8 months, up from 3.5 months in March and up from 2.3 months in April 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 April was $254,500, an increase of 6.0% from one year ago and a decrease of 6.6% from March. 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 April averaged 59 days on the market (DOM), 11 days slower than in April 2023.

Forecast: April sales were consistent with the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 78 sales for the month, while actual sales were also 78 units. ACRE forecasted a total of 281 home sales year-to-date, while there were 263 actual sales through April, a difference of 6.5%.    

New Construction: The 9 new homes sold represented 11.5% of all residential sales in the area in April. Total sales didn’t change year-over-year. The median sales price was $245,000, a decrease of 24.2% from one year ago and a decrease of 17.5% from March.

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.