Sales: According to the Cullman Association of Realtors, December residential sales increased 12.0% year-over-year from 117 to 131 closed transactions. Following seasonal trends, sales increased 35.1% from November. Sales are now up 13.5% 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: December listings (200) decreased 28.6% from November and increased 12.4% from one year ago. Months of supply (inventory to sales ratio) remained at 1.5 year over year, reflecting a market where seller’s generally have elevated bargaining power.
Pricing: The area’s median sales price in December was $235,000, an increase of 30.6% from one year ago and no change from November. 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 December averaged 35 days on the market (DOM), 68 days faster than December 2020.
Forecast: December sales were 33 units, or 33.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 98 sales for the month, while actual sales were 131 units. ACRE forecast a total of 1254 sales year-to-date, while there were 1307 actual sales through December, a difference of 4.23%.
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 December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.