Sales: According to the Etowah-Cherokee Association of Realtors, April residential sales in the Gadsden area increased 14.9% year-over-year from 74 to 85 closed transactions. Breaking seasonal trends, sales decreased 26.1% from March. Sales are now up 9.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Gadsden area’s housing data, click here.
Inventory: Following regional trends but to a greater degree, total homes listed for sale in April decreased 60.5% year-over-year from 299 to 118 listings. Months of supply dropped from 4.0 to 1.4, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in April was $143,500, a decrease of 4.9% from one year ago and a decrease of 10.3% 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 73 days on market, 21 days faster than April 2020.
Forecast: April sales were 23 units, or 21.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 108 sales for the month, while actual sales were 85 units. ACRE forecast a total of 374 sales in the area year-to-date, while there were 335 actual sales through April, a difference of 10.5%.
Click here to view the entire monthly report.
The Gadsden Residential Monthly Report is developed in conjunction with the Etowah-Cherokee 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.