Cullman area home sales decline 6% year-over-year in June 2022

Sales: According to the Cullman Association of Realtors, June residential sales decreased 5.6% year-over-year from 125 to 118 closed transactions. Following seasonal trends, sales increased 10.3% from May. Sales are now down 4.4% 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: Total homes listed for sale in June increased 79.6% year-over-year from 181 to 325 listings. Months of supply (inventory to sales ratio) increased from 1.4 to 2.8, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in June was $232,000, an increase of 16.6% from one year ago and an increase of 3.1% from May. 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 June averaged 28 days on the market (DOM), 60 days faster than June 2021. 

Forecast: June sales were 4 units, or 3.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 114 sales for the month, while actual sales were 118 units. ACRE forecast a total of 616 residential sales in the Cullman County area year-to-date, while there were 603 actual sales through June, a difference of 2.1%. 

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.