ALABAMA REAL ESTATE JOURNAL

Athens-area home sales up 31% year-over-year in November

According to the Athens-Limestone Association of Realtors, November residential sales in the area increased 30.6% year-over-year (Y/Y) from 144 to 188 closed transactions. Sales decreased 1.1% from October. Sales are up 18.0% 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: November listings (986) increased 1.4% from October and increased 45.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.2 months, constant from October and up from 4.7 months in November 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 November was $293,682, a decrease of 8.6% from one year ago and a decrease of 9.6% from October. 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 November averaged 54 days on the market (DOM), 25 days slower than November 2023. 

Forecast: November sales were 33 units, or 20.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 154 sales, and actual sales were 188 units. ACRE forecasts a total of 1,845 home sales in the area year-to-date, while there were 2,067 actual sales through November, a difference of 12.02%. 

New Construction: The 104 new homes sold in November represent 55.3% of all residential sales in the area. Total sales increased 60.0% year-over-year. The median sales price in November was $313,325, a decrease of 4.8% from October and 2.1% 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. 

Facebook
Twitter
LinkedIn
Email
X