Sales: According to the Etowah-Cherokee Association of Realtors, April residential sales in the Gadsden area decreased 14.1% year-over-year from 85 to 73 closed transactions. Following seasonal trends, sales decreased 28.4% from March. Sales are now up 13.28% 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: April listings (138) increased 21.9% from March and increased 17.8% from one year ago. Months of supply (inventory to sales ratio) also increased from 1.4 to 1.9, reflecting a market where seller’s generally have elevated bargaining power.
Pricing: The area’s median sales price in April was $135,000, a decrease of 5.9% from one year ago and a decrease of 27% 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 22 days on market, 51 days faster than April 2021.
Forecast: April sales were 26 units, or 26.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 99 sales for the month, while actual sales were 73 units. ACRE forecast a total of 371 sales in the area year-to-date, while there were 346 actual sales through April, a difference of 6.6%.
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.