Cullman-area home sales down 14% in April

Sales: According to the Cullman Association of Realtors, April residential sales decreased 13.6% year-over-year from 118 to 102 closed transactions. Going against seasonal trends, sales decreased 4.7% from March.  Sales are now down 1.6% 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: April listings (281) increased 7.3% from March and increased 89.9% from one year ago. Months of supply (inventory to sales ratio) increased from 1.3 to 2.8 year over year, reflecting a market where seller’s generally have elevated bargaining power.  

Pricing: The area’s median sales price in April was $217,450, an increase of 14.5% from one year ago and a decrease of 12.2% from March. 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 April averaged 23 days on the market (DOM), 65 days faster than April 2021.  

Forecast: April sales were 12 units, or 10.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 114 sales for the month, while actual sales were 102 units. ACRE forecast a total of 389 sales year-to-date, while there were 378 actual sales through April, a difference of 2.8%.    

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.