According to the Marshall County Board of Realtors, April residential sales increased by 30.8% year-over-year (Y/Y) with 102 closed transactions. Sales increased 15.9% from March. Sales are up 17.5% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: April listings (427) increased 5.4% from March and increased 44.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, down from 4.6 months in March and up from 3.8 months in April 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 April was $249,050, a decrease of 2.1% from one year ago and a decrease of 13.4% from March. 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 April averaged 81 days on the market (DOM), 22 days slower than in April 2024.
Forecast: April sales were 16 units, or 18.0%, above with the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 86 sales for the month, while actual sales were 102 units. ACRE forecasted a total of 284 home sales year-to-date, while there were 309 actual sales through April, a difference of 8.8% New Construction: The 15 new homes sold represented 14.7% of all residential sales in the area in April. Total sales increased 66.7% year-over-year. The median sales price was $315,000, an increase of 28.6% from one year ago and an increase of 16.7% from March.
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.
