Sales: According to the Etowah-Cherokee Association of Realtors, December residential sales in the Gadsden area decreased 9.6% year-over-year from 94 to 85 closed transactions. Sales decreased 9.6% from November, and are up 6.14% 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: Following regional trends but to a greater degree, total homes listed for sale in December decreased 25.7% year-over-year from 175 to 130 listings. Months of supply dropped from 1.7 to 1.5, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in December was $178,500, an increase of 4.42% from one year ago and an increase of 10.02% 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 market, 30 days faster than December 2020.
Forecast: December sales were 4 units, or 5.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 81 sales for the month, while actual sales were 85 units. ACRE forecast a total of 1166 residential sales in the area year-to-date, while there were 1,141 actual sales through December, a difference of 2.15%.
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 December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the upcoming impact of COVID-19 on the housing market.