Weekly Market Activity Report

For Week Ending May 21, 2022 Quick Facts

Data current as of May 31, 2022
Rental prices continue to soar to new highs, with the median rent reaching $1,827 as of + 21.4% + 7.7% + 9.9% + 7.7% + 26.8% + 54.5%
last measure, a 16.7% increase from the same time last year, according to
Single Family Townhouse/Condo Single Family Townhouse/Condo Single Family Townhouse/Condo
Realtor.com. Rental units are in short supply and demand remains high, with real
estate professionals reporting a surge in rental inquiries, applications, and showing Year-Over-Year Change Year-Over-Year Change Year-Over-Year Change
activity across the nation. Bidding wars are becoming increasingly common in many New Listings Pending Sales Homes for Sale
rental home markets, causing some properties to rent for substantially over asking
price.
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 May 21:
• New Listings increased 21.4% to 431
• Pending Sales increased 9.9% to 356
• Inventory increased 26.8% to 1,511 Metrics by Week
New Listings 2
For the month of April: Pending Sales 3
• Median Sales Price increased 21.7% to $311,795 Inventory of Homes for Sale 4
• Days on Market decreased 48.0% to 13
• Pct of List Price Rec'd increased 0.6% to 101.3%
• Months Supply increased 22.2% to 1.1 Metrics by Month
Days on Market 5
TOWNHOUSE/CONDO Median Sales Price 6
For the week ending May 21: Percent of List Price Received 7
• New Listings increased 7.7% to 14 Housing Affordability Index 8
• Pending Sales increased 7.7% to 14
• Inventory increased 54.5% to 68
Months Supply of Inventory 9

For the month of April:

• Median Sales Price increased 18.4% to $225,000
• Days on Market decreased 11.1% to 8
• Pct of List Price Rec'd decreased 0.4% to 102.4%
• Months Supply increased 66.7% to 1.0

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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
2/26/2022 338 + 11.2% 12 - 45.5%
450 3/5/2022 339 + 6.6% 13 0.0%
400 3/12/2022 336 - 8.2% 13 - 55.2%
3/19/2022 347 + 15.7% 16 0.0%
350
3/26/2022 348 + 1.8% 16 + 33.3%
300
4/2/2022 438 + 40.8% 22 + 100.0%
250 4/9/2022 390 + 6.3% 14 - 17.6%

200 4/16/2022 367 + 4.9% 38 + 245.5%

4/23/2022 428 + 14.7% 10 - 23.1%
150
4/30/2022 401 - 1.5% 13 + 116.7%
100
5/7/2022 426 + 16.4% 21 + 10.5%
50 5/14/2022 370 + 3.9% 23 + 76.9%

0 5/21/2022 431 + 21.4% 14 + 7.7%

2/26/22 3/5/22 3/12/22 3/19/22 3/26/22 4/2/22 4/9/22 4/16/22 4/23/22 4/30/22 5/7/22 5/14/22 5/21/22 3-Month Avg. 381 + 9.8% 17 + 15.4%

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 1-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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
2/26/2022 321 + 7.4% 13 - 23.5%

350 3/5/2022 330 + 1.9% 13 + 30.0%

3/12/2022 316 - 5.4% 12 - 14.3%
300
3/19/2022 298 + 1.7% 14 - 12.5%

250
3/26/2022 306 - 7.8% 20 + 33.3%
4/2/2022 338 + 15.0% 10 + 25.0%
200 4/9/2022 344 + 3.6% 28 + 300.0%
4/16/2022 340 + 0.6% 14 - 12.5%
150
4/23/2022 316 - 15.1% 15 + 15.4%
100 4/30/2022 290 - 13.2% 14 + 16.7%
5/7/2022 323 + 2.2% 14 + 180.0%
50
5/14/2022 300 + 2.4% 16 + 14.3%

0 5/21/2022 356 + 9.9% 14 + 7.7%

2/26/22 3/5/22 3/12/22 3/19/22 3/26/22 4/2/22 4/9/22 4/16/22 4/23/22 4/30/22 5/7/22 5/14/22 5/21/22 3-Month Avg. 321 - 0.2% 15 + 23.1%

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 1-2022 5-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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
1,600
2/26/2022 1,259 + 1.8% 61 + 45.2%

1,400 3/5/2022 1,230 - 0.4% 56 + 24.4%

3/12/2022 1,214 + 0.2% 56 + 21.7%
1,200
3/19/2022 1,208 - 0.4% 55 + 3.8%

1,000
3/26/2022 1,230 + 3.0% 56 + 19.1%
4/2/2022 1,263 + 9.0% 56 + 24.4%
800 4/9/2022 1,289 + 11.2% 51 + 15.9%
4/16/2022 1,273 + 10.3% 46 0.0%
600
4/23/2022 1,307 + 15.2% 65 + 71.1%
400 4/30/2022 1,377 + 22.4% 60 + 53.8%
5/7/2022 1,415 + 22.5% 57 + 58.3%
200
5/14/2022 1,478 + 26.9% 67 + 52.3%

0 5/21/2022 1,511 + 26.8% 68 + 54.5%

2/26/22 3/5/22 3/12/22 3/19/22 3/26/22 4/2/22 4/9/22 4/16/22 4/23/22 4/30/22 5/7/22 5/14/22 5/21/22 3-Month Avg. 1,312 + 11.2% 58 + 32.5%

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 1-2022 5-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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.

April Data for the

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

May-2021 18 - 60.0% 22 - 56.9%

47 Jun-2021 16 - 59.0% 14 - 6.7%
41 Jul-2021 12 - 66.7% 15 - 34.8%
Aug-2021 12 - 66.7% 11 - 45.0%
Sep-2021 13 - 56.7% 16 - 30.4%
Oct-2021 16 - 42.9% 12 - 74.5%
25
Nov-2021 17 - 37.0% 9 - 71.0%
Dec-2021 16 - 40.7% 9 - 43.8%
13 Jan-2022 18 - 35.7% 12 0.0%
9 8 Feb-2022 20 - 35.5% 12 - 14.3%
Mar-2022 18 - 35.7% 8 - 68.0%
2020 2021 2022 2020 2021 2022 Apr-2022 13 - 48.0% 8 - 11.1%
+ 16.6% - 48.0% - 78.0% - 11.1% Average 15 - 51.6% 12 - 48.3%
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 1-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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.

April Data for the

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

May-2021 $260,000 + 15.6% $248,450 + 45.3%

$311,795 Jun-2021 $269,900 + 17.4% $175,000 + 7.0%
Jul-2021 $275,000 + 19.6% $196,000 + 1.8%
$256,175
Aug-2021 $272,042 + 16.4% $234,500 + 73.7%
$219,645 $225,000
Sep-2021 $275,000 + 19.3% $194,750 - 12.5%
$190,000 Oct-2021 $278,958 + 19.5% $235,000 + 25.0%
$150,000 Nov-2021 $281,905 + 20.0% $239,900 - 2.2%
Dec-2021 $293,218 + 19.7% $210,000 + 2.4%
Jan-2022 $277,363 + 16.8% $205,000 + 4.6%
Feb-2022 $296,789 + 23.7% $210,000 + 14.0%
Mar-2022 $304,950 + 20.6% $230,000 + 4.3%
2020 2021 2022 2020 2021 2022 Apr-2022 $311,795 + 21.7% $225,000 + 18.4%
+ 16.6% + 21.7% + 26.7% + 18.4% Median $280,508 + 17.9% $220,000 + 11.0%
Single Family Townhouse/Condo

Historical Median Sales Price Single Family Townhouse/Condo

$350,000

$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 1-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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.

April Data for the

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

May-2021 101.4% + 2.6% 101.8% + 2.4%

98.7% 100.7% 101.3% 99.4% 102.8% 102.4% Jun-2021 101.6% + 2.5% 102.2% + 2.3%
Jul-2021 101.4% + 2.3% 103.3% + 3.7%
Aug-2021 101.0% + 1.8% 100.4% + 1.0%
Sep-2021 100.6% + 1.3% 101.1% + 1.4%
Oct-2021 100.2% + 1.1% 100.3% + 1.9%
Nov-2021 100.0% + 0.8% 102.1% + 0.8%
Dec-2021 100.0% + 0.7% 102.3% + 1.6%
Jan-2022 99.9% + 0.5% 101.9% + 0.9%
Feb-2022 100.4% + 0.9% 101.4% + 0.9%
Mar-2022 100.7% + 0.6% 100.9% + 0.2%
2020 2021 2022 2020 2021 2022 Apr-2022 101.3% + 0.6% 102.4% - 0.4%
+ 2.0% + 0.6% + 3.4% - 0.4% Average 100.7% + 1.4% 101.7% + 1.4%
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 1-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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.

April Data for the

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

May-2021 136 - 9.9% 143 - 27.8%

225 Jun-2021 131 - 12.1% 202 - 3.3%
Jul-2021 130 - 13.9% 182 + 1.1%
185 Aug-2021 129 - 13.4% 149 - 42.5%
153 Sep-2021 126 - 17.1% 178 + 12.7%
137 Oct-2021 124 - 17.9% 148 - 21.3%
122
Nov-2021 126 - 16.6% 149 + 2.8%
88 Dec-2021 116 - 20.5% 161 - 8.0%
Jan-2022 118 - 22.4% 160 - 13.5%
Feb-2022 109 - 27.3% 154 - 21.0%
Mar-2022 97 - 29.7% 128 - 19.5%
2020 2021 2022 2020 2021 2022 Apr-2022 88 - 35.8% 122 - 34.1%
- 10.5% - 35.8% - 17.8% - 34.1% Average 119 - 13.6% 156 - 6.5%
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
75
1-2015 1-2016 1-2017 1-2018 1-2019 1-2020 1-2021 1-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 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.

April Data for the

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

May-2021 0.9 - 55.0% 0.8 - 52.9%

2.2 Jun-2021 0.9 - 50.0% 0.8 - 60.0%

Jul-2021 1.1 - 35.3% 0.8 - 55.6%
1.8 Aug-2021 1.2 - 25.0% 0.9 - 30.8%
Sep-2021 1.2 - 20.0% 0.9 - 18.2%
Oct-2021 1.2 - 14.3% 0.8 - 20.0%
1.1 Nov-2021 1.2 - 7.7% 0.9 - 18.2%
1.0
0.9 Dec-2021 1.1 - 8.3% 1.2 + 9.1%
0.6 Jan-2022 1.0 0.0% 0.8 0.0%
Feb-2022 0.9 0.0% 1.0 + 25.0%
Mar-2022 1.0 + 11.1% 1.0 + 42.9%
2020 2021 2022 2020 2021 2022 Apr-2022 1.1 + 22.2% 1.0 + 66.7%
- 59.1% + 22.2% - 66.7% + 66.7% Average 1.1 - 21.8% 0.9 - 22.8%
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 1-2022

Current as of May 31, 2022. All data from ValleyMLS. Report © 2022 ShowingTime. | 9