Cullman-area home sales decrease 9% in November

Sales: According to the Cullman Association of Realtors, November residential sales increased 15.5% year-over-year from 84 to 97 closed transactions. Going along with seasonal trends, sales decreased 9.4% from October.  Sales are now up 13.62% 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: November listings (280) increased 36.6% from October and increased 41.41% from one year ago. Months of supply (inventory to sales ratio) increased from 2.4 to 2.9, reflecting a market where seller’s generally have elevated bargaining power. 

Pricing: The area’s median sales price in November was $235,000, an increase of 3.52% from one year ago and a increase of 11.9% from October. 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 November averaged 40 days on the market (DOM), 64 days faster than November 2020. 

Forecast: November sales were 5 units, or 5.01%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 102 sales for the month, while actual sales were 97 units. ACRE forecast a total of 1156 sales year-to-date, while there were 1176 actual sales through November, a difference of 1.73%.   

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