Cullman area home up 17% year-over-year in September

Sales: According to the Cullman Association of Realtors, September residential sales increased 16.7% year-over-year from 109 to 127 closed transactions. Going against seasonal trends, sales increased 21.2% from August.  Sales are now up 14.1% 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: September listings (314) increased 3% from August and 48.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.5 months, down from 2.9 month in August and up from 1.9 months in September 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply

Pricing: The area’s median sales price in September was $199,900, an increase of 17.7% from one year ago and an increase of 1.9% from August. 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 September averaged 22 days on the market (DOM), a record low and 76 days faster than September 2020. 

Forecast: September sales were 12 units, or 9.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 115 sales for the month, while actual sales were 127 units. ACRE forecast a total of 949 sales year-to-date, while there were 972 actual sales through September, a difference of 2.5%.   

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

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