Athens-area home sales up 13% year-over-year in November

ATHENS — Home sales in the Athens area increased 12.5% November year-over-year (Y/Y) from 128 to 144 closed transactions, according to the Athens-Limestone Association of Realtors. Sales were up 5.1% from October but down 13.4% year-to-date.

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• Inventory: November listings (677) increased 2.6% from October and increased 29.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.7 months, down from 4.8 months in October and up from 4.1 months in November 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-5 months of supply.
• Pricing: The area’s median sales price in November was $321,450, a decrease of 2.6% from one year ago and a decrease of 5.5% from October. 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 November averaged 29 days on the market, 9 days slower than November 2022.
• Forecast: November sales were 13 units, or 9.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 131 sales, and actual sales were 144 units. ACRE forecast a total of 1,705 sales in the area year-to-date, while there were 1,751 actual sales through November, a difference of 2.7%.
• New Construction: The 65 new homes sold represent 45.1% of all residential sales in the area in November. Total sales increased 38.3% year-over-year. The median sales price in November was $319,900, a decrease of 6.5% from October and a decrease of 11.1% from one year ago.

The Athens Area (Limestone County) Monthly Residential Report is developed in conjunction with the Athens-Limestone Association of Realtors to better serve area consumers.