Cullman area residential sales down 20% from previous month in September

According to the Cullman Association of Realtors, September residential sales decreased 5.0% from last year. Sales decreased 20.0% from August. Sales are now down 7.0% 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 September decreased 20.1% year-over-year from 379 to 303 listings. Months of supply (inventory to sales ratio) increased from 3.2 months in August to 4.0 months in September, reflecting a market where buyers generally have elevated bargaining power.

Pricing: The area’s median sales price in September was $238,450, an increase of 4.3% from one year ago and an increase of 3.3% from August. 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 September averaged 56 days on the market (DOM), 24 days slower than September 2022. 

Forecast: September sales were 6 units, or 7.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 82 sales for the month, while actual sales were 76 units. ACRE forecast a total of 749 residential sales in the Cullman County area year-to-date, while there were 746 actual sales through September, a difference of 0.5%. 

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.