Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: According to the North Alabama Multiple Listing Service, Marshall County sales were 15 percent below February 2015 at 40 sales for the month. Year-to-date sales in Marshall County are 15.6 percent below the same period last year. Two more resources to review: Quarterly Report and Annual Report.

Click here to check out all of our Marshall County housing data.

Forecast: February sales were 19 units or 32 percent below our monthly forecast. Alabama Center for Real Estate’s (ACRE) year-to-date sales forecast through February projected 111 closed transactions while the actual sales were 81 units, an unfavorable difference of 27 percent.

Home sales in Marshall County decreased 14.9 percent from last February in 2016.

Supply: Marshall County housing inventory totaled 560 units, a decrease of 17 percent from February 2015. February inventory also increased 5.5 percent from the prior month. This direction is consistent with historical data that indicates February inventory on average (2011-15) increases from the month of January by 1.7 percent. Inventory levels continue to move in a downward trajectory in Marshall County during February. The inventory-to-sales ratio during February remains higher than desired at 14.0 months of housing supply. Restated, at the February sales pace, it would take 14.0 months to absorb the current inventory for sale. This is 2.1 percent lower than last February ratio of 14.3 months of supply. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during the month of February so this represents an area where continued improvement would be welcome news for market participants.

Demand: Marshall County residential sales during February decreased 2.4 percent from the prior month. This direction contrasts with historical data indicating that February sales on average (2011-15) increase from the month of January by 14.7 percent.

Pricing: The Marshall County area median sales price in February was $109,950, an increase of 11 percent from last February ($99,000). The February median sales price was also 12 percent below the prior month. Historical data indicates that the February median sales price on average (2011-15) decreases from the month of January by 8.8 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate and we recommend contacting a local real estate professional for additional market pricing information. 

Industry Perspective: “Our February results show the most modest consumer home price expectations since late 2012,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “For consumers who think it’s a bad time to buy a home, whose share has trended up from its recent low last November, high home prices have been an increasingly contributing factor. A slower pace of home price appreciation may provide some relief for potential homebuyers, especially first-time buyers who couldn’t reap the benefits of selling a home at high prices to buy another one.” For the full story, click here.

Homes sold during February in Marshall County sold for an average price of $134,696.

On average, homes sold in Marshall County during February spent 106 days on the market.

There were 560 units listed for sale in Marshall County during February.

The median sales price for homes sold during February in Marshall County was $109,950.

There were 14.0 months of supply on the market during February in Marshall County.

Year-to-date home sales in Marshall County through February dipped 15.6 percent from the same period last year.

There were 40 total units sold in Marshall County during February.

The Marshall County Residential Monthly Report is work product developed in conjunction with the Marshall County Board of Realtors to better serve its area consumers.