Median sales prices for homes in Athens have increased almost 25 percent from November 2017 to November 2018, according to a recent report by the Alabama Center for Real Estate.

The Athens median sales price was $217,000 in November of this year, up 24.7 percent from one year ago and down 6.5 percent from October. ACRE said the decrease is consistent with previous data.

Verna Stephens, a Realtor with Dream Key Real Estate, said the increase is consistent with what she’s witnessed in the market recently.

“I watch the new listings and there are some that you wonder about the appraising because the price per square foot has gone up so much,” she said.

Stephens said sales prices have gone up in part because the prices for materials and lots have gone up. She also attributed the increase to a decrease in supply.

“If you look at the homes sold and the listings, it’s like we’re not getting enough listings for the housing market,” she said. “I think of it as the old basics of economics and supply and demand.”

ACRE reported 457 homes listed for sale in Athens in November, a decrease of 22.1 percent from last year and 1.7 percent from last month.

Homes also spent less time on the market, averaging 51 days on the market before sale in November. This average is a 34.6 percent decrease from November 2017 and a decrease of 10.5 percent from October.

Stephens said one reason for the increase in demand is the difference between Athens prices and those in other areas. Even at a sharp increase, it’s still more bang for the buck for some buyers.

She said she’s had buyers from Texas, Florida and Illinois come to the Athens-Limestone area for work and end up appreciating the difference in property tax, price per square foot and, of course, the weather and hospitality.

“I’ve sold two this year to people who are retiring,” she said. “They have family here and they like it here.”

Stephens understands the draw. She said she’s visited elsewhere, but there’s just something about Limestone County that can’t be found elsewhere.

“I’ve lived here all my life,” she said. “I don’t want to go somewhere else.”