Marshall County home sales increase in September

Marshall County home sales increase in September

Topics: Residential Real Estate

Markets: Marshall County

Sales: According to the Marshall County Board of Realtors, September residential sales increased 38.3% year-over-year from 81 to 112 closed transactions. Sales decreased 5.9% from August, and are up 18.7% year to date. Two more resources to review: Quarterly Report and Annual Report.  

 

For all of Marshall County’s housing data, click here.

 

Inventory: Total homes listed for sale in September declined 40.1% year-over-year from 332 to 199 listings. Months of supply dropped from 4.1 to 1.8, reflecting a market where sellers generally have elevated bargaining power. 

 

Pricing: The area’s median sales price in September was $159,900, a decrease of 5.7% from one year ago and a decrease of 8.1% 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), 47 days faster than September 2019. 

 

Forecast: September sales were 35 units, or 45.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 77 sales for the month, while actual sales were 112 units. ACRE forecast a total of 720 residential sales in the area year-to-date, while there were 843 actual sales through September, a difference of 17.1%. 

 

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.