Weekly Market Activity Report

For Week Ending October 16, 2021 Quick Facts

Data current as of October 25, 2021
The supply of entry-level housing is at its lowest level in nearly five decades, according + 1.1% + 77.8% - 2.6% - 29.4% - 18.2% - 25.0%
to Freddie Mac, who reports that entry-level home construction decreased from
Single Family Townhouse/Condo Single Family Townhouse/Condo Single Family Townhouse/Condo
418,000 units per year in the 1970s to 65,000 units per year in 2020. The shortage of
starter homes has proven challenging to first-time buyers, as many existing entry-level Year-Over-Year Change Year-Over-Year Change Year-Over-Year Change
homes are being remodeled or demolished and replaced by much larger homes, while New Listings Pending Sales Homes for Sale
those that remain have become significantly more expensive, with sales prices
increasing 64% from 2016, according to realtor.com.
A research tool provided by ValleyMLS.com covering the Alabama counties
of Cherokee, DeKalb, Etowah, Jackson, Lawrence, Limestone, Madison,
SINGLE FAMILY
Marshall and Morgan.
For the week ending October 16:
• New Listings increased 1.1% to 353
• Pending Sales decreased 2.6% to 303
• Inventory decreased 18.2% to 1,562 Metrics by Week
New Listings 2
For the month of September: Pending Sales 3
• Median Sales Price increased 19.2% to $274,738 Inventory of Homes for Sale 4
• Days on Market decreased 56.7% to 13
• Pct of List Price Rec'd increased 1.3% to 100.6%
• Months Supply decreased 20.0% to 1.2 Metrics by Month
Days on Market 5
TOWNHOUSE/CONDO Median Sales Price 6
For the week ending October 16: Percent of List Price Received 7
• New Listings increased 77.8% to 16 Housing Affordability Index 8
• Pending Sales decreased 29.4% to 12
• Inventory decreased 25.0% to 42
Months Supply of Inventory 9

For the month of September:

• Median Sales Price decreased 16.4% to $186,000
• Days on Market decreased 34.8% to 15
• Pct of List Price Rec'd increased 1.5% to 101.2%
• Months Supply decreased 18.2% to 0.9

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime.
New Listings
A count of the properties that have been newly listed on the market in a given week.

Current Single Family Current Townhouse/Condo

Last Three Months One Year Ago Single Family One Year Ago Townhouse/Condo
Data for the
Week Ending…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change
500
7/24/2021 400 + 3.1% 21 + 162.5%
450 7/31/2021 439 + 17.1% 15 + 66.7%
400 8/7/2021 394 + 7.1% 16 - 20.0%
8/14/2021 476 + 33.0% 18 + 12.5%
350
8/21/2021 365 + 4.3% 16 + 23.1%
300
8/28/2021 375 + 4.7% 11 + 37.5%
250 9/4/2021 354 - 6.6% 18 - 10.0%

200 9/11/2021 337 - 3.2% 13 - 13.3%

9/18/2021 368 + 18.7% 6 - 70.0%
150
9/25/2021 317 - 7.3% 9 - 25.0%
100
10/2/2021 405 + 9.5% 12 + 100.0%
50 10/9/2021 320 + 2.9% 14 + 40.0%

0 10/16/2021 353 + 1.1% 16 + 77.8%

7/24/21 7/31/21 8/7/21 8/14/21 8/21/21 8/28/21 9/4/21 9/11/21 9/18/21 9/25/21 10/2/21 10/9/21 10/16/21 3-Month Avg. 377 + 6.4% 14 + 11.4%

Historical New Listing Activity Single Family Townhouse/Condo

500

450

400

350

300

250

200

150

100

50

0
1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 1-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 2
Pending Sales
A count of the properties in either a contingent or pending status in a given week.

Current Single Family Current Townhouse/Condo

Last Three Months One Year Ago Single Family One Year Ago Townhouse/Condo
Data for the
Week Ending…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change
400
7/24/2021 352 - 3.8% 26 + 116.7%

350 7/31/2021 353 - 2.8% 17 - 5.6%

8/7/2021 307 - 15.4% 14 - 6.7%
300
8/14/2021 328 - 11.6% 13 - 40.9%

250
8/21/2021 300 - 13.3% 14 - 12.5%
8/28/2021 325 - 9.0% 16 - 15.8%
200 9/4/2021 323 - 13.9% 7 - 63.2%
9/11/2021 276 - 12.7% 9 - 25.0%
150
9/18/2021 278 - 21.2% 15 - 37.5%
100 9/25/2021 327 + 10.8% 4 - 82.6%
10/2/2021 323 - 2.1% 17 + 41.7%
50
10/9/2021 292 - 1.4% 13 + 44.4%

0 10/16/2021 303 - 2.6% 12 - 29.4%

7/24/21 7/31/21 8/7/21 8/14/21 8/21/21 8/28/21 9/4/21 9/11/21 9/18/21 9/25/21 10/2/21 10/9/21 10/16/21 3-Month Avg. 314 - 8.0% 14 - 18.8%

Historical Under Contract Single Family Townhouse/Condo

450

400

350

300

250

200

150

100

50

0
1-2015 5-2015 9-2015 1-2016 5-2016 9-2016 1-2017 5-2017 9-2017 1-2018 5-2018 9-2018 1-2019 5-2019 9-2019 1-2020 5-2020 9-2020 1-2021 5-2021 9-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 3
Inventory of Homes for Sale
The number of properties available for sale in active status at the end of a given week.

Current Single Family Current Townhouse/Condo

Last Three Months One Year Ago Single Family One Year Ago Townhouse/Condo
Data for the
Week Ending…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change
2,500
7/24/2021 1,355 - 37.8% 50 - 52.4%
7/31/2021 1,379 - 35.4% 54 - 44.9%
2,000 8/7/2021 1,420 - 33.0% 47 - 46.0%
8/14/2021 1,488 - 28.2% 48 - 50.0%
8/21/2021 1,533 - 24.5% 54 - 40.0%
1,500
8/28/2021 1,552 - 23.7% 51 - 36.3%
9/4/2021 1,552 - 22.0% 50 - 28.6%

1,000 9/11/2021 1,529 - 22.9% 59 - 19.2%

9/18/2021 1,563 - 20.8% 57 - 25.0%
9/25/2021 1,586 - 17.6% 51 - 26.1%
500
10/2/2021 1,555 - 20.0% 53 - 14.5%
10/9/2021 1,573 - 18.5% 47 - 23.0%

0 10/16/2021 1,562 - 18.2% 42 - 25.0%

7/24/21 7/31/21 8/7/21 8/14/21 8/21/21 8/28/21 9/4/21 9/11/21 9/18/21 9/25/21 10/2/21 10/9/21 10/16/21 3-Month Avg. 1,511 - 25.1% 51 - 35.2%

Historical Inventory of Homes for Sale Single Family Townhouse/Condo

7,500

5,000

2,500

0
1-2015 5-2015 9-2015 1-2016 5-2016 9-2016 1-2017 5-2017 9-2017 1-2018 5-2018 9-2018 1-2019 5-2019 9-2019 1-2020 5-2020 9-2020 1-2021 5-2021 9-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 4
Days on Market Until Sale
Average number of days between when a property is listed and when an offer is accepted in a given month.

September Data for the

month of…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change

Oct-2020 28 - 37.8% 47 + 6.8%

Nov-2020 27 - 42.6% 31 + 19.2%
49 Dec-2020 27 - 44.9% 16 - 63.6%
Jan-2021 28 - 49.1% 12 - 67.6%
38 Feb-2021 31 - 43.6% 14 - 39.1%
Mar-2021 28 - 44.0% 25 - 24.2%
30
Apr-2021 25 - 46.8% 9 - 78.0%
23 May-2021 18 - 60.0% 22 - 56.9%
15 Jun-2021 16 - 59.0% 13 - 13.3%
13
Jul-2021 12 - 66.7% 15 - 34.8%
Aug-2021 12 - 66.7% 11 - 45.0%
2019 2020 2021 2019 2020 2021 Sep-2021 13 - 56.7% 15 - 34.8%
+ 15.3% - 56.7% - 39.5% - 34.8% Average 21 - 50.7% 20 - 36.8%
Single Family Townhouse/Condo

Historical Market Time Single Family Townhouse/Condo

250

200

150

100

50

0
1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 1-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 5
Median Sales Price
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

September Data for the

month of…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change

Oct-2020 $233,520 + 15.9% $188,000 + 40.8%

$274,738
Nov-2020 $234,900 + 14.2% $245,400 + 29.2%

$230,545 $222,500
Dec-2020 $245,000 + 16.1% $205,000 - 0.4%
Jan-2021 $237,780 + 14.3% $196,000 + 49.9%
$200,000
$186,000 Feb-2021 $240,000 + 20.5% $184,250 + 35.5%
Mar-2021 $252,900 + 17.6% $220,510 + 47.0%
$139,000
Apr-2021 $256,175 + 16.6% $190,000 + 26.7%
May-2021 $260,000 + 15.6% $248,450 + 45.3%
Jun-2021 $269,900 + 17.4% $175,000 + 7.0%
Jul-2021 $275,000 + 19.6% $196,000 + 1.8%
Aug-2021 $272,002 + 16.4% $234,500 + 73.7%
2019 2020 2021 2019 2020 2021 Sep-2021 $274,738 + 19.2% $186,000 - 16.4%
+ 15.3% + 19.2% + 60.1% - 16.4% Median $255,000 + 15.9% $205,000 + 24.2%
Single Family Townhouse/Condo

Historical Median Sales Price Single Family Townhouse/Condo

$300,000

$250,000

$200,000

$150,000

$100,000

$50,000
1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 1-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 6
Percent of List Price Received
Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold
in a given month, not accounting for seller concessions.

September Data for the

month of…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change

Oct-2020 99.1% + 0.9% 98.4% + 2.1%

98.2% 99.3% 100.6% 97.7% 99.7% 101.2% Nov-2020 99.2% + 0.8% 101.3% + 2.1%
Dec-2020 99.3% + 1.2% 100.7% + 3.3%
Jan-2021 99.4% + 0.9% 101.0% + 3.2%
Feb-2021 99.5% + 1.4% 100.5% + 1.3%
Mar-2021 100.1% + 1.8% 100.7% + 1.1%
Apr-2021 100.7% + 2.0% 102.8% + 3.4%
May-2021 101.4% + 2.6% 101.8% + 2.4%
Jun-2021 101.6% + 2.5% 102.3% + 2.4%
Jul-2021 101.4% + 2.3% 103.3% + 3.7%
Aug-2021 100.9% + 1.7% 100.4% + 1.0%
2019 2020 2021 2019 2020 2021 Sep-2021 100.6% + 1.3% 101.2% + 1.5%
+ 1.1% + 1.3% + 2.0% + 1.5% Average 100.3% + 1.7% 101.2% + 2.3%
Single Family Townhouse/Condo

Historical Percent of Original List Price Received Single Family Townhouse/Condo

105%

100%

95%

90%

85%
1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 1-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 7
Housing Affordability Index
This index measures housing affordability for the region. For example, an index of 120 means the median household income was 120%
of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

September Data for the

month of…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change

Oct-2020 151 - 4.4% 188 - 21.3%

231 Nov-2020 151 - 2.6% 145 - 13.2%
Dec-2020 146 - 3.3% 175 + 13.6%
192
Jan-2021 152 - 3.2% 185 - 26.0%
160 152 158 Feb-2021 150 - 9.6% 195 - 20.1%
130 Mar-2021 138 - 11.0% 159 - 28.4%
Apr-2021 137 - 10.5% 185 - 17.8%
May-2021 136 - 9.9% 143 - 27.8%
Jun-2021 131 - 12.1% 202 - 3.3%
Jul-2021 130 - 13.9% 182 + 1.1%
Aug-2021 131 - 12.1% 152 - 41.3%
2019 2020 2021 2019 2020 2021 Sep-2021 130 - 14.5% 192 + 21.5%
- 5.0% - 14.5% - 31.6% + 21.5% Average 140 - 14.7% 175 + 1.0%
Single Family Townhouse/Condo

Historical Housing Affordability Index Single Family Townhouse/Condo

425
400
375
350
325
300
275
250
225
200
175
150
125
100
1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 1-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 8
Months Supply of Inventory
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

September Data for the

month of…
Single
Family
Year-Over-Year
Change
Townhouse/
Condo
Year-Over-Year
Change

Oct-2020 1.4 - 50.0% 1.0 - 41.2%

2.8
Nov-2020 1.3 - 50.0% 1.1 - 21.4%
Dec-2020 1.2 - 50.0% 1.1 - 21.4%
Jan-2021 1.0 - 56.5% 0.8 - 50.0%
2.0
Feb-2021 0.9 - 59.1% 0.8 - 50.0%

1.5 Mar-2021 0.9 - 59.1% 0.8 - 50.0%

Apr-2021 0.9 - 59.1% 0.7 - 61.1%
1.2 1.1 May-2021 0.9 - 55.0% 0.8 - 52.9%
0.9
Jun-2021 0.9 - 50.0% 0.8 - 60.0%
Jul-2021 1.1 - 35.3% 0.8 - 55.6%
Aug-2021 1.2 - 25.0% 1.0 - 23.1%
2019 2020 2021 2019 2020 2021 Sep-2021 1.2 - 20.0% 0.9 - 18.2%
- 46.4% - 20.0% - 45.0% - 18.2% Average 1.1 - 49.1% 0.9 - 44.4%
Single Family Townhouse/Condo

Historical Months Supply of Inventory Single Family Townhouse/Condo

9

0
1-2016 1-2017 1-2018 1-2019 1-2020 1-2021

Current as of October 25, 2021. All data from ValleyMLS. Report © 2021 ShowingTime. | 9