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 1.3 percent above June 2015 at 76 sales for the month. Year-to-date sales in Marshall County were 9.7 percent above the same period last year. Another resource to review is the Annual Report.

Click here to check out all Marshall County housing data.

Forecast: June sales were five units or 6 percent below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through June projected 417 closed transactions, while the actual sales were 396 units, an unfavorable difference of 5 percent.

June home sales in Marshall County rose 1.3 percent above last June.

Supply: Marshall County housing inventory totaled 614 units, a decrease of 18 percent from June 2015. June inventory increased 3.2 percent from May. This direction is consistent with historical data that indicate June inventory on average (2011-15) increases from May by 2.6 percent.

The inventory-to-sales ratio has improved to 8.1 months of supply. Restated, at the June sales pace, it would take 8.1 months to absorb the current inventory for sale. This is 19.2 percent lower than last June’s ratio of 10 months of supply. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during June, so continued improvement would be welcome news for market participants.

Pricing: The Marshall County area median sales price in June was $149,100, an increase of 46.2 percent from last June’s $102,000. The June median sales price was also 13.6 percent above the May median sales price. Historical data indicate that the June median sales price on average (2011-15) increases from May by 6.7 percent. Pricing can fluctuate from month to month as the sample size of data is subject to seasonal buying patterns. ACRE recommends contacting a local real estate professional for additional market pricing information. 

Industry perspective: “Housing activity is gaining strength heading into the summer, with pending home sales rising to a decade high. In addition, new home sales surged to an expansion best, a positive for single-family homebuilding, especially since only a small share of new homes for sale are completed and ready to occupy,” said Fannie Mae Chief Economist Doug Duncan in the organization’s June Economic Outlook. “However, recent pullbacks in construction hiring, likely due to a shortage of skilled workers, could weigh on the outlook for the sector. With little improvement in the current housing supply picture so far, we expect only moderate housing expansion this year.” For the full report, click here.

The average sales price for homes sold in Marshall County during June was $194,147.

On average, homes sold in Marshall County during June spent 140 days on the market.

Year-to-date home sales through June in Marshall County rose 9.7 percent over the same period last year.

There were 614 homes listed for sale in Marshall County during June.

The median sales price for homes sold in Marshall County during June was $149,100.

There were 8.1 months of supply on the market in Marshall County during June.

There were 76 homes sold in Marshall County during June.

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