ALABAMA REAL ESTATE JOURNAL

Cullman area home inventory increases 51.0% year-over-year in December

Sales: According to the Cullman Association of Realtors, December residential sales decreased 35.1% year-over-year from 131 to 85 closed transactions. Following seasonal trends, sales increased 7.6% from November. Sales are now down 12.6% 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: Total homes listed for sale in December increased 51.0% year-over-year from 200 to 302 listings. Months of supply (inventory to sales ratio) decreased from 4.2 months in November to 3.6 months in December, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in December was $228,500, a decrease of 2.8% from one year ago and a decrease of 6.6% from November. 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 December averaged 54 days on the market (DOM), 19 days slower than December 2021. 

Forecast: December sales were 22 units, or 20.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 107 sales for the month, while actual sales were 85 units. ACRE forecast a total of 1,270 residential sales in the Cullman County area year-to-date, while there were 1,143 actual sales through December, a difference of 10.0%. 

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.

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