According to the Marshall County Board of Realtors, February residential sales increased by 1.6% year-over-year (Y/Y) with 64 closed transactions. Sales increased 16.4% from January. Sales are up 3.5% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: February listings (395) didn’t change from January and increased 62.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.2 months, down from 7.2 months in January and up from 3.9 months in February 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 February was $255,000, an increase of 13.4% from one year ago and an increase of 0.8% from January. 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 February averaged 81 days on the market (DOM), 20 days slower than in February 2024.
Forecast: February sales were consistent with the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 64 sales for the month, while actual sales were 64 units. ACRE forecasted a total of 121 home sales year-to-date, while there were 119 actual sales through February, a difference of 1.4%
New Construction: The 11 new homes sold represented 16.9% of all residential sales in the area in February. Total sales increased 83.3% year-over-year. The median sales price was $249,900, a decrease of 11.3% from one year ago and a decrease of 1.5% from January.
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.
