According to the Marshall County Board of Realtors, August residential sales increased by 23.1% year-over-year (Y/Y) with 96 closed transactions. Sales increased 7.9% from July. Sales are up 7.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: August listings (442) decreased 6.4% from July and increased 3.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.6 months, down from 5.3 months in July, and down from 5.5 months in August 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 August was $270,000, an increase of 3.9% from one year ago and a decrease of 6.4% from July. 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 August averaged 68 days on the market (DOM), 30 days slower than in August 2024.
Forecast: August sales were 15 units, or 19.0%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 81 sales for the month, while actual sales were 96 units. ACRE forecasted a total of 653 home sales year-to-date, while there were 685 actual sales through August, a difference of 4.8%
New Construction: The 13 new homes sold represented 13.5% of all residential sales in the area in August. Total sales increased 18.2% year-over-year. The median sales price was $269,900, a decrease of 6.6% from one year ago and a decrease of 7.6% from July.
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.
