According to the Cullman Association of Realtors, February residential sales increased 23.1% from last year. Sales increased 42.2% from January. 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 February decreased 30.0% year-over-year from 320 to 224 listings. Months of supply (inventory to sales ratio) increased from 6.8 months in January to 3.5 months in February, reflecting a market where buyers generally have decreased bargaining power.
Pricing: The area’s median sales price in February was $258,645, an increase of 7.8% from one year ago and an increase of 17.0% from January. 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 February averaged 78 days on the market (DOM), 24 days slower than February 2023.
Forecast: February sales were 2 units, or 2.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 66 sales for the month, while actual sales were 64 units. ACRE projected 123 sales year-to-date, while actual sales were 109, a difference of 11.6%.
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.
