Cullman area home prices on the rise at the start of the new year

Sales: According to the Cullman Association of Realtors, January residential sales decreased 32.1% year-over-year from 81 to 55 closed transactions. Following seasonal trends, sales decreased 35.3% from December. Sales are now down 32.1% 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 January increased 24.6% year-over-year from 244 to 304 listings. Months of supply (inventory to sales ratio) increased from 3.6 months in December to 5.5 months in January, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in January was $245,000, an increase of 6.5% from one year ago and an increase of 7.2% 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 72 days on the market (DOM), 28 days slower than January 2021. 

Forecast: January sales were 0 units, or 0.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 55 sales for the month, while actual sales were 55 units. ACRE forecast a total of 55 residential sales in the Cullman County area year-to-date, while there were 55 actual sales through January, a difference of 0.0%. 

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.