Sales: According to the Etowah-Cherokee Association of Realtors, January residential sales in the Gadsden area increased 31.8% year-over-year from 66 to 87 closed transactions. Sales increased 2.4% from December, and are up 31.8% 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 January decreased 19.4% year-over-year from 139 to 112 listings. Months of supply dropped from 2.1 to 1.3, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in January was $145,000, a decrease of 14.7% from one year ago and an decrease of 18.8% 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 36 days on market, 29 days faster than January 2020.
Forecast: January sales were 12 units, or 15.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 75 sales for the month, while actual sales were 87 units. ACRE forecast a total of 75 residential sales in the area year-to-date, while there were 87 actual sales through January, a difference of 15.8%.
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.