According to the Athens-Limestone Association of Realtors, August residential sales in the area increased 36.8% year-over-year (Y/Y) from 163 to 223 closed transactions. Sales increased 4.7% from July. Sales are up 13.2% 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: August listings (958) increased 1.5% from July and increased 65.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.3 months, down from 4.4 months in July and up from 3.5 months in August 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 August was $330,000, an increase of 6.5% from one year ago and a decrease of 1.6% from July. 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 August averaged 41 days on the market (DOM), 10 days slower than August 2023.
Forecast: August sales were 36 units, or 19.0%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 187 sales, and actual sales were 223 units. ACRE forecasts a total of 1,344 home sales in the area year-to-date, while there were 1,499 actual sales through August, a difference of 11.5%.
New Construction: The 133 new homes sold represent 59.6% of all residential sales in the area in August. Total sales increased 84.7% year-over-year. The median sales price in August was $329,000, a decrease of 5.4% from July and an increase of 1.3% 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.
