According to the Athens-Limestone Association of Realtors, September residential sales in the area increased 5.6% year-over-year (Y/Y) from 180 to 190 closed transactions. Sales decreased 14.8% from August. Sales are up 14.9% 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: September listings (971) increased 1.4% from August and increased 64.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.1 months, up from 4.3 months in August and up from 3.3 months in September 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 September was $324,000, a decrease of 1.1% from one year ago and a decrease of 1.8% from August. 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 September averaged 39 days on the market (DOM), 9 days slower than September 2023.
Forecast: September sales were 1 unit, or 0.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 189 sales, and actual sales were 190 units. ACRE forecasts a total of 1,533 home sales in the area year-to-date, while there were 1,689 actual sales through September, a difference of 10.1%.
New Construction: The 99 new homes sold represent 52.1% of all residential sales in the area in September. Total sales increased 12.5% year-over-year. The median sales price in September was $320,000, a decrease of 2.7% from August and a decrease of 0.3% 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.
