According to the Marshall County Board of Realtors, May residential sales decreased by 15.0% year-over-year (Y/Y) with 91 closed transactions. Sales decreased 10.8% from April. Sales are up 8.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: May listings (463) increased 8.4% from April and increased 50.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.1 months, up from 4.2 months in April and up from 2.9 months in May 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 May was $259,000, a decrease of 10.7% from one year ago and an increase of 4.0% from April. 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 May averaged 55 days on the market (DOM), 2 days slower than in May 2024.
Forecast: May sales were 9 units, or 10.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 102 sales for the month, while actual sales were 91 units. ACRE forecasted a total of 386 home sales year-to-date, while there were 400 actual sales through May, a difference of 3.7%
New Construction: The 9 new homes sold represented 9.9% of all residential sales in the area in May. Total sales decreased 30.8% year-over-year. The median sales price was $248,990, a decrease of 3.9% from one year ago and a decrease of 21.0% from April.
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.
