Athens-area home sales up 26% year-over-year in July

ATHENS — According to the Athens-Limestone Association of Realtors, July residential sales in the area increased 26.0% year-over-year (Y/Y) from 169 to 213 closed transactions. Sales increased 12.7% from June. Sales are up 13.2% year-to-date. 

For all of the Athens (Limestone County) housing data, click here. For more information, visit the Quarterly Report and Annual Report.  

Inventory: July listings (944) increased 15.3% from June and increased 77.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.4 months, up from 4.3 months in June and up from 3.2 months in July 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-6 months of supply. 

Pricing: The area’s median sales price in July was $335,395, an increase of 0.1% from one year ago and an increase of 2.9% from June. 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 July averaged 45 days on the market (DOM), 16 days slower than July 2023. 

Forecast: July sales were 38 units, or 21.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 175 sales, and actual sales were 213 units. ACRE forecasts a total of 1,157 home sales in the area year-to-date, while there were 1,276 actual sales through July, a difference of 10.3%.   

New Construction: The 92 new homes sold represent 43.2% of all residential sales in the area in July. Total sales increased 12.2% year-over-year. The median sales price in July was $347,643, an increase of 3.5% from June and an increase of 6.3% from one year ago.  

Click here to view the entire monthly report. 

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