ALABAMA REAL ESTATE JOURNAL

Home sales in the Cullman area increase again in June

Sales: According to the Cullman Association of Realtors, June residential sales increased 47.1% year-over-year from 85 to 125 closed transactions. Going along with seasonal trends, sales increased 2.5% from May.  Sales are now up 31.5% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

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

Inventory: June listings (181) increased 21.5% from May and declined 40.3% from one year ago. Months of supply (inventory to sales ratio) also decreased from 3.6 to 1.4, reflecting a market where seller’s generally have elevated bargaining power.

Pricing: The area’s median sales price in June was $199,900, an increase of 11.0% from one year ago and an increase of 2.5% 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 88 days on the market (DOM), 42 days faster than June 2020.

Forecast: June sales were 11 units, or 10.0%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 114 sales for the month, while actual sales were 125 units. ACRE forecast a total of 611 sales year-to-date, while there were 631 actual sales through June, a difference of 3.2%.

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

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