Gadsden-area home sales up significantly in June 2021

Sales: According to the Etowah-Cherokee Association of Realtors, June residential sales in the Gadsden area increased 58.3% year-over-year from 84 to 133 closed transactions. Breaking seasonal trends, sales increased 37.1% from May. Sales are now up 19.7% 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: June listings (163) increased 39.3% from May and declined 36.8% from one year ago. Months of supply (inventory to sales ratio) also decreased from 3.1 to 1.2, reflecting a market where seller’s generally have elevated bargaining power.

Pricing: The area’s median sales price in June was $175,400, an increase of 21.5% from one year ago and a decrease of 2.6% from May. 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 June averaged 64 days on market, 22 days faster than June 2020.

Forecast: June sales were 23 units, or 20.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 110 sales for the month, while actual sales were 133 units. ACRE forecast a total of 592 sales in the area year-to-date, while there were 565 actual sales through June, a difference of 4.6%.

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 June 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.