Athens Homes Selling 26 Days Faster On Average Compared To A Year Ago

By ACRE Research

Sales: According to the North Alabama Multiple Listing Service, Athens/Limestone County residential sales totaled 159 units during July, down 7 percent from 171 sales in the same month a year earlier. July sales were down 15.4 percent compared to 188 sales in May. Results were 70.9 percent above the five-year July average of 110 sales. Two more resources to review: Quarterly Report and  Annual Report.  

For all Athens/Limestone County area housing data, click here.

Inventory: Total homes listed for sale in the Athens area in July totaled 502 units, a decrease of 26.5 percent from July 2017’s 683 units, and an increase of 2 percent from June 2018’s 492 units. Athens also experienced a decline in months of supply in July. July months of supply totaled 3.2 months, a decrease of 21 percent from July 2017’s 4 months of supply. July’s months of supply increased from June’s 2.6 months of supply.Pricing: The Athens median sales price in July was $228,298, an increase of 18.3 percent from one year ago and a decrease of .4 percent from the prior month. This direction is inconsistent with historical data (2013-17) indicating that the July median sales price on average increases from June by 7.1 percent. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE highly recommends consulting with a local real estate professional to discuss pricing trends, as they will vary from neighborhood to neighborhood. The homes selling in July spent an average of 45 days on the market (DOM), a decrease of 36.6 percent from 71 days in July 2017, while also decreasing 25 percent from 60 days in June.

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