Weekly Market Activity Report

For Week Ending September 17, 2022 Quick Facts

Data current as of September 26, 2022
Mortgage rates topped 6% the week ending 9/15, as hotter-than-expected inflation - 13.8% + 300.0% - 11.3% - 13.3% + 63.5% + 124.2%
helped push rates to their highest level since 2008 amid growing recession concerns.
Single Family Townhouse/Condo Single Family Townhouse/Condo Single Family Townhouse/Condo
According to Freddie Mac, mortgage rates are now double what they were this time
last year, squeezing homebuyer budgets and causing home sales to slow under the Year-Over-Year Change Year-Over-Year Change Year-Over-Year Change
weight of rising borrowing costs. New Listings Pending Sales Homes for Sale

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 September 17:
• New Listings decreased 13.8% to 307
• Pending Sales decreased 11.3% to 244
• Inventory increased 63.5% to 2,555 Metrics by Week
New Listings 2
For the month of August: Pending Sales 3
• Median Sales Price increased 11.6% to $303,700 Inventory of Homes for Sale 4
• Days on Market increased 25.0% to 15
• Pct of List Price Rec'd decreased 1.6% to 99.4%
• Months Supply increased 81.8% to 2.0 Metrics by Month
Days on Market 5
TOWNHOUSE/CONDO Median Sales Price 6
For the week ending September 17: Percent of List Price Received 7
• New Listings increased 300.0% to 24 Housing Affordability Index 8
• Pending Sales decreased 13.3% to 13
• Inventory increased 124.2% to 139
Months Supply of Inventory 9

For the month of August:

• Median Sales Price decreased 4.1% to $225,000
• Days on Market increased 63.6% to 18
• Pct of List Price Rec'd decreased 0.2% to 100.2%
• Months Supply increased 118.2% to 2.4

Current as of September 26, 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
6/25/2022 426 + 22.8% 23 - 28.1%
450 7/2/2022 408 + 7.4% 9 - 40.0%
400 7/9/2022 316 - 3.7% 15 - 6.3%
7/16/2022 423 + 3.4% 21 + 61.5%
350
7/23/2022 370 - 7.0% 16 - 23.8%
300
7/30/2022 432 + 0.7% 10 - 33.3%
250 8/6/2022 429 + 10.9% 7 - 56.3%

200 8/13/2022 394 - 16.3% 14 - 22.2%

8/20/2022 374 + 4.5% 11 - 31.3%
150
8/27/2022 294 - 19.2% 15 + 36.4%
100
9/3/2022 400 + 17.3% 52 + 188.9%
50 9/10/2022 314 - 7.1% 17 + 30.8%

0 9/17/2022 307 - 13.8% 24 + 300.0%

6/25/22 7/2/22 7/9/22 7/16/22 7/23/22 7/30/22 8/6/22 8/13/22 8/20/22 8/27/22 9/3/22 9/10/22 9/17/22 3-Month Avg. 376 - 0.4% 18 + 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 1-2022

Current as of September 26, 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
6/25/2022 263 - 23.1% 5 - 86.5%

350 7/2/2022 291 - 22.8% 7 - 36.4%

7/9/2022 249 - 3.5% 17 - 29.2%
300
7/16/2022 279 - 7.3% 20 + 122.2%

250
7/23/2022 259 - 27.5% 14 - 41.7%
7/30/2022 257 - 28.8% 11 - 35.3%
200 8/6/2022 273 - 12.2% 7 - 22.2%
8/13/2022 277 - 16.3% 8 - 38.5%
150
8/20/2022 301 - 1.0% 14 + 7.7%
100 8/27/2022 276 - 14.3% 17 + 6.3%
9/3/2022 290 - 10.8% 20 + 122.2%
50
9/10/2022 268 - 1.5% 14 + 75.0%

0 9/17/2022 244 - 11.3% 13 - 13.3%

6/25/22 7/2/22 7/9/22 7/16/22 7/23/22 7/30/22 8/6/22 8/13/22 8/20/22 8/27/22 9/3/22 9/10/22 9/17/22 3-Month Avg. 271 - 14.7% 13 - 18.5%

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 9-2022

Current as of September 26, 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
3,000
6/25/2022 2,050 + 68.7% 91 + 102.2%
7/2/2022 2,136 + 77.3% 109 + 122.4%
2,500
7/9/2022 2,188 + 81.1% 105 + 110.0%
7/16/2022 2,222 + 75.0% 107 + 122.9%
2,000
7/23/2022 2,303 + 70.3% 105 + 105.9%
7/30/2022 2,358 + 71.1% 105 + 90.9%
1,500 8/6/2022 2,417 + 70.7% 103 + 94.3%
8/13/2022 2,512 + 69.6% 107 + 98.1%
1,000 8/20/2022 2,525 + 65.9% 102 + 72.9%
8/27/2022 2,509 + 63.1% 100 + 78.6%
500 9/3/2022 2,517 + 63.8% 100 + 81.8%
9/10/2022 2,535 + 67.4% 131 + 107.9%

0 9/17/2022 2,555 + 63.5% 139 + 124.2%

6/25/22 7/2/22 7/9/22 7/16/22 7/23/22 7/30/22 8/6/22 8/13/22 8/20/22 8/27/22 9/3/22 9/10/22 9/17/22 3-Month Avg. 2,371 + 69.4% 108 + 100.6%

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 9-2022

Current as of September 26, 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.

August Data for the

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

Sep-2021 13 - 56.7% 16 - 30.4%

36 Oct-2021 16 - 42.9% 12 - 74.5%

Nov-2021 17 - 37.0% 9 - 71.0%
Dec-2021 16 - 40.7% 9 - 43.8%
Jan-2022 18 - 35.7% 12 0.0%
Feb-2022 20 - 35.5% 12 - 14.3%
20
18 Mar-2022 18 - 37.9% 8 - 68.0%
15 Apr-2022 13 - 50.0% 8 - 11.1%
12 11 May-2022 14 - 22.2% 9 - 59.1%
Jun-2022 12 - 25.0% 8 - 42.9%
Jul-2022 12 0.0% 6 - 60.0%
2020 2021 2022 2020 2021 2022 Aug-2022 15 + 25.0% 18 + 63.6%
- 66.7% + 25.0% - 45.0% + 63.6% Average 15 - 34.3% 11 - 48.2%
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 September 26, 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.

August Data for the

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

Sep-2021 $275,000 + 19.3% $194,750 - 12.5%

$303,700 Oct-2021 $278,958 + 19.5% $235,000 + 25.0%
$272,042 Nov-2021 $281,905 + 20.0% $239,900 - 2.2%

$234,500 Dec-2021 $293,435 + 19.8% $210,000 + 2.4%

$233,750 $225,000
Jan-2022 $277,363 + 16.8% $205,000 + 4.6%
Feb-2022 $296,789 + 23.7% $210,000 + 14.0%
Mar-2022 $305,000 + 20.7% $230,000 + 3.7%
$135,000
Apr-2022 $311,889 + 21.8% $225,000 + 18.4%
May-2022 $313,900 + 20.7% $245,000 - 1.4%
Jun-2022 $315,000 + 16.7% $195,000 + 11.4%
Jul-2022 $315,896 + 14.9% $195,000 - 0.5%
2020 2021 2022 2020 2021 2022 Aug-2022 $303,700 + 11.6% $225,000 - 4.1%
+ 16.4% + 11.6% + 73.7% - 4.1% Median $298,915 + 19.3% $217,500 + 4.9%
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 September 26, 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.

August Data for the

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

Sep-2021 100.6% + 1.3% 101.1% + 1.4%

99.2% 101.0% 99.4% 99.4% 100.4% 100.2% 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%
Apr-2022 101.3% + 0.6% 102.4% - 0.4%
May-2022 100.9% - 0.5% 100.9% - 0.9%
Jun-2022 100.7% - 0.9% 102.1% - 0.1%
Jul-2022 100.2% - 1.2% 101.5% - 1.7%
2020 2021 2022 2020 2021 2022 Aug-2022 99.4% - 1.6% 100.2% - 0.2%
+ 1.8% - 1.6% + 1.0% - 0.2% Average 100.4% + 0.2% 101.4% + 0.4%
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 September 26, 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.

August Data for the

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

Sep-2021 126 - 17.1% 178 + 12.7%

Oct-2021 124 - 17.9% 148 - 21.3%
259
Nov-2021 126 - 16.6% 149 + 2.8%
Dec-2021 115 - 21.2% 161 - 8.0%
Jan-2022 118 - 22.4% 160 - 13.5%
Feb-2022 109 - 27.3% 154 - 21.0%
149 149
129 122 Mar-2022 97 - 30.2% 128 - 19.0%
Apr-2022 88 - 35.8% 122 - 34.1%
90
May-2022 88 - 35.3% 112 - 21.7%
Jun-2022 87 - 33.6% 141 - 30.2%
Jul-2022 87 - 33.1% 141 - 22.5%
2020 2021 2022 2020 2021 2022 Aug-2022 90 - 30.2% 122 - 18.1%
- 13.4% - 30.2% - 42.5% - 18.1% Average 105 - 12.5% 143 - 12.9%
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 September 26, 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.

August Data for the

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

Sep-2021 1.2 - 20.0% 1.0 - 9.1%

Oct-2021 1.2 - 14.3% 0.9 - 10.0%
2.4 Nov-2021 1.2 - 7.7% 1.0 - 9.1%
Dec-2021 1.1 - 8.3% 1.4 + 27.3%
2.0
Jan-2022 1.0 0.0% 0.9 + 12.5%
1.6 Feb-2022 0.9 0.0% 1.1 + 37.5%
1.3 Mar-2022 1.0 + 25.0% 1.2 + 50.0%
1.1 1.1 Apr-2022 1.2 + 33.3% 1.2 + 100.0%
May-2022 1.4 + 55.6% 1.4 + 75.0%
Jun-2022 1.7 + 88.9% 1.8 + 125.0%
Jul-2022 1.9 + 72.7% 1.9 + 137.5%
2020 2021 2022 2020 2021 2022 Aug-2022 2.0 + 81.8% 2.4 + 118.2%
- 31.3% + 81.8% - 15.4% + 118.2% Average 1.3 + 21.3% 1.3 + 48.6%
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 September 26, 2022. All data from ValleyMLS. Report © 2022 ShowingTime. | 9