Marshall County home sales increase in August
Sales: According to the Marshall County Board of Realtors, August residential sales increased 20.2% year-over-year from 99 to 119 closed transactions. Sales decreased 0.8% from July, and are up 16.2% 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 August declined 34.6% year-over-year from 330 to 216 listings. Months of supply dropped from 3.3 to 1.8, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in August was $175,000, a decrease of 6.2% from one year ago and an increase of 5.3% 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 59 days on the market (DOM), 21 days faster than August 2019.
Forecast: August sales were 27 units, or 29.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 92 sales for the month, while actual sales were 119 units. ACRE forecast a total of 643 residential sales in the area year-to-date, while there were 731 actual sales through August, a difference of 13.7%.
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.
Editor's Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period August 1 - 30, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the upcoming impact of COVID-19 on the housing market.