Cullman residential sales increase 20% year-over-year in April

According to the Cullman Association of Realtors, April residential sales increased 20.0% year-over-year from 75 to 90 closed transactions. Sales decreased 5.3% from March. 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 0.3% year-over-year from 313 to 314 listings. Months of supply (inventory to sales ratio) increased from 2.4 months in March to 3.5 months in April, reflecting a market where buyers generally have decreased bargaining power.

Pricing: The area’s median sales price in April was $227,9509, a decrease of 1.7% from one year ago and an increase of 1.1% 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 76 days on the market (DOM), 14 days slower than April 2023.

Forecast: April sales were 1 unit, or 0.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 91 sales for the month, while actual sales were 90 units. ACRE projected 302 sales year-to-date, while actual sales were 294, a difference of 2.6%.

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.