According to the Athens-Limestone Association of Realtors, May residential sales in the area increased 26.7% year-over-year (Y/Y) from 180 to 228 closed transactions. Sales increased 15.2% from April. Sales are up 17.0% 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: May listings (792) increased 1.9% from April and increased 56.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.5 months, down from 3.9 months in April and up from 2.8 months in May 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 May was $326,250, an increase of 1.0% from one year ago and an increase of 2.8% from April. 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 May averaged 32 days on the market (DOM), 9 days faster than May 2023.
Forecast: May sales were 39 units, or 20.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 189 sales, and actual sales were 228 units. ACRE forecast a total of 781 home sales in the area year-to-date, while there were 874 actual sales through April, a difference of 11.9%.
New Construction: The 111 new homes sold represent 48.7% of all residential sales in the area in May. Total sales increased 48.0% year-over-year. The median sales price in May was $322,990, an increase of 2.1% from April and consistent 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.
