According to the Marshall County Board of Realtors, September residential sales increased 18.5% year-over-year (Y/Y) from 65 to 77 closed transactions. Sales decreased 1.3% from August. Sales are up 0.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: September listings (430) increased 0.5% from August and increased 77.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.6 months, up from 5.5 months in August and up from 3.7 months in September 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 September was $249,800, an increase of 2.2% from one year ago and a decrease of 3.9% from August. 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 September averaged 44 days on the market (DOM), 12 days slower than in September 2023.
Forecast: September sales were 4 units or 5.1% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 81 sales for the month, while actual sales were 77 units. ACRE forecasted a total of 747 home sales year-to-date, while there were 712 actual sales through September, a difference of 4.6%.
New Construction: The 13 new homes sold represented 16.9% of all residential sales in the area in September. Total sales decreased 7.1% year-over-year. The median sales price was $258,000, a decrease of 5.1% from one year ago and a decrease of 10.7% from August.
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
