Sales: According to the Cullman Association of Realtors, January residential sales decreased 5.8% year-over-year from 86 to 81 closed transactions. Following seasonal trends, sales decreased 38.2% from December. Sales are now down 5.8% 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: January listings (244) increased 22.0% from December and increased 42.7% from one year ago. Months of supply (inventory to sales ratio) increased from 2.0 to 3.0 year over year, reflecting a market where seller’s generally have elevated bargaining power.
Pricing: The area’s median sales price in January was $230,000, an increase of 15.3% from one year ago and a decrease of 2.1% from December. 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 January averaged 44 days on the market (DOM), 45 days faster than January 2021.
Forecast: January sales were 13 units, or 13.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 94 sales for the month, while actual sales were 81 units. ACRE forecast a total of 94 sales year-to-date, while there were 81 actual sales through January, a difference of 13.6%.
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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.