According to the Marshall County Board of Realtors, December residential increased by 6.8% year-over-year (Y/Y) with 78 closed transactions. Sales decreased 11.4% from November. Sales are up 4.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: December listings (399) decreased 4.3% from November and increased 59.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.1 months, up from 4.7 months in November and up from 3.4 months in December 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in December was $238,945, a decrease of 0.4% from one year ago and down 15.3% from November. 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 December averaged 57 days on the market (DOM), 6 days slower than in December 2023.
Forecast: December sales were 2 units or 2.7% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 76 sales for the month, while actual sales were 78 units. ACRE forecasted a total of 981 home sales year-to-date, while there were 950 actual sales through December, a difference of 3.2%.
New Construction: The 11 new homes sold represented 14.1% of all residential sales in the area in December. Total sales increased 22.2% year-over-year. The median sales price was $297,000, an increase of 30.3% from one year ago and an increase of 6.6% from November.
Click here to view the entire monthly report.
The Marshall County Residential Monthly Report is developed in conjunction with the Marshall County Board of Realtors to better serve area consumers.