Cullman-area residential sales decrease 27% year-over-year in April

Sales: According to the Cullman Association of Realtors, April residential sales decreased 26.5% year-over-year from 102 to 75 closed transactions. Sales decreased 19.4% from March. Sales are now down 27.2% 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 April increased 11.4% year-over-year from 281 to 313 listings. Months of supply (inventory to sales ratio) increased from 2.7 months in March to 4.1 months in April, reflecting a market where buyers generally have elevated bargaining power.

Pricing: The area’s median sales price in April was $232,000, an increase of 6.7% from one year ago and an increase of 3.2% 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 62 days on the market (DOM), 39 days slower than April 2022. 

Forecast: April sales were 14 units, or 15.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 89 sales for the month, while actual sales were 75 units. ACRE forecast a total of 293 residential sales in the Cullman County area year-to-date, while there were 275 actual sales through April, a difference of 6.0%. 

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.