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 home sales in September were 14 percent below September 2015 at 77 sales for the month. Year-to-date sales in Marshall County were 6.2 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.

Year-to-date home sales in Marshall County through September rose 6 percent over last year.

Forecast: September sales were nine units or 13 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through September projected 641 closed transactions, while the actual sales were 652 units, a favorable difference of 2 percent.

Supply: Marshall County housing inventory totaled 555 units, a decrease of 13 percent from September 2015. September inventory decreased 2.5 percent from August. This direction is consistent with historical data that indicate September inventory on average (2011-15) decreases from August by 3.8 percent.

The inventory-to-sales ratio has improved to 7.2 months of supply. Restated, at the September sales pace, it would take 7.2 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during September, so continued improvement would be welcome news for market participants.

Pricing: The Marshall County area median sales price in September was $113,500, a decrease of 12 percent from last September’s $128,500. The September median sales price was 6.3 percent below the August median sales price. Historical data indicate that the September median sales price on average (2011-15) increases from August by 2.5 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: “The decline in the HPSI (Home Purchase Sentiment Index) over the past two months from the survey-high in July of 86.5 adds a note of caution to our moderately positive housing outlook,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Downside changes came in particular from the HPSI components ‘mortgage rate direction’ and ‘good time to buy a house.’ In addition, the starter home tight supply and rising home prices as well as the unsettled political environment are likely giving many consumers a reason to pause or question their home purchase sentiment.” For the full report, click here.

Click here to generate more graphs from the Marshall County September Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply. 

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