According to the Marshall County Board of Realtors, July residential sales decreased by 9.2% year-over-year (Y/Y) with 89 closed transactions. Sales decreased 11.0% from June. 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: July listings (472) decreased 1.1% from June and increased 16.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.3 months, up from 4.8 months in June, and up from 4.1 months in July 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 July was $288,415, an increase of 20.2% from one year ago and an increase of 5.6% from June. 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 July averaged 64 days on the market (DOM), 29 days slower than in July 2024.
Forecast: July sales were 7 units, or 7.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 96 sales for the month, while actual sales were 89 units. ACRE forecasted a total of 573 home sales year-to-date, while there were 589 actual sales through July, a difference of 2.8%
New Construction: The 18 new homes sold represented 20.2% of all residential sales in the area in July. Total sales increased 125.0% year-over-year. The median sales price was $291,950, a decrease of 5.1% from one year ago and an increase of 7.6% from June.
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.
