According to the Marshall County Board of Realtors, March residential sales increased by 25.7% year-over-year (Y/Y) with 88 closed transactions. Sales increased 37.5% from February. Sales are up 11.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: March listings (405) increased 2.5% from February and increased 63.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.6 months, down from 6.2 months in February and up from 3.5 months in March 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 March was $287,500, an increase of 5.5% from one year ago and an increase of 12.8% from February. 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 March averaged 84 days on the market (DOM), 39 days slower than in March 2024.
Forecast: March sales were 11 units, or 14.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 77 sales for the month, while actual sales were 88 units. ACRE forecasted a total of 198 home sales year-to-date, while there were 207 actual sales through March, a difference of 4.7%
New Construction: The 10 new homes sold represented 11.4% of all residential sales in the area in March. Total sales remained unchanged year-over-year. The median sales price was $270,000, a decrease of 9.1% from one year ago and an increase of 8.0% from February.
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.