According to the Athens-Limestone Association of Realtors, October residential sales in the area increased 38.7% year-over-year (Y/Y) from 137 to 190 closed transactions. Sales remained constant from September. Sales are up 16.9% 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: October listings (972) increased 0.1% from September and increased 47.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.1 months, constant from September and up from 4.8 months in October 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 October was $325,000, a decrease of 4.4% from one year ago and an increase of 0.3% from September. 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 October averaged 48 days on the market (DOM), 17 days slower than October 2023.
Forecast: October sales were 33 units, or 20.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 157 sales, and actual sales were 190 units. ACRE forecasts a total of 1,691 home sales in the area year-to-date, while there were 1,879 actual sales through October, a difference of 11.1%.
New Construction: The 89 new homes sold represent 46.8% of all residential sales in the area in October. Total sales increased 50.8% year-over-year. The median sales price in October was $329,237, an increase of 2.9% from September and a decrease of 3.8% 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.
