According to the Marshall County Board of Realtors, January residential increased by 5.8% year-over-year (Y/Y) with 55 closed transactions. Sales decreased 29.5% from December. Sales are up 5.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: January listings (395) decreased 1.0% from December and increased 61.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 7.2 months, up from 5.1 months in December and up from 4.7 months in January 2024. 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 January was $253,000, an increase of 7.9% from one year ago and an increase of 5.9% from December. 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 January averaged 62 days on the market (DOM), 30 days slower than in January 2024.
Forecast: January sales were 1 unit or 2.5% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 56 sales for the month, while actual sales were 55 units.
New Construction: The 11 new homes sold represented 20.0% of all residential sales in the area in January. Total sales increased 83.3% year-over-year. The median sales price was $253,620, a decrease of 41.1% from one year ago and a decrease of 14.6% from December.
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.
