According to the Marshall County Board of Realtors, June residential sales decreased 10.1% year-over-year (Y/Y) from 99 to 89 closed transactions. Sales decreased 16.8% from May. Sales are up 2.0% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: June listings (358) increased 16.2% from May and increased 83.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.0 months, up from 2.9 months in May and up from 2.0 months in June 2023. 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 June was $285,000, an increase of 3.6% from one year ago and a decrease of 1.7% from May. 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 June averaged 40 days on the market (DOM), 8 days slower than in June 2023.
Forecast: June sales were 6 units below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 95 sales for the month, while actual sales were also 89 units. ACRE forecasted a total of 468 home sales year-to-date, while there were 459 actual sales through June, a difference of 2.0%.
New Construction: The 9 new homes sold represented 10.1% of all residential sales in the area in June. Total sales increased 28.6% year-over-year. The median sales price was $246,490, a decrease of 12.0% from one year ago and a decrease of 4.8% from May.
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.
