According to the Cullman Association of Realtors, January residential sales decreased 18.2% from last year. Sales decreased 43.0% from December. 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 0.3% year-over-year from 304 to 305 listings. Months of supply (inventory to sales ratio) increased from 4.1 months in December to 6.8 months in January, reflecting a market where buyers generally have decreased bargaining power.
Pricing: The area’s median sales price in January was $221,000, a decrease of 9.8% from one year ago and a decrease of 14.7% 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 63 days on the market (DOM), 9 days faster than January 2023.
Forecast: January sales were 12 units, or 21.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 57 sales for the month, while actual sales were 45 units.
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.
