Home sales in the Cullman area increase in April

Sales: According to the Cullman Association of Realtors, April residential sales increased 35.6% year-over-year from 87 to 118 closed transactions. Going along with seasonal trends, sales increased 2.6% from March. Two more resources to review: Quarterly Report and Annual Report.

For all of the Cullman County area’s housing data, click here.

Inventory: Total homes listed for sale in April declined 63.5% year-over-year from 406 to 148 listings, extending the area’s streak of Y/Y inventory declines to 24 months. Months of supply (inventory to sales ratio) declined from 4.7 to 1.3, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in April was $189,900, an increase of 7.3% from one year ago and an increase of 0.5% from March. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Homes sold in April averaged 88 days on the market (DOM), 19 days faster than April 2020.

Forecast: April sales were 10 units, or 8.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 108 sales for the month, while actual sales were 118 units. ACRE forecast a total of 383 sales year-to-date, while there were 384 actual sales through April, a difference of 0.2%.

Click here to view the entire monthly report.

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

Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.