According to the Cullman Association of Realtors, June residential sales decreased 31.6% from last year. Sales decreased 15.8% from May. 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 June increased 26.7% year-over-year from 311 to 394 listings. Months of supply (inventory to sales ratio) increased from 4.0 months in May to 4.9 months in June, reflecting a market where buyers generally have decreased bargaining power.
Pricing: The area’s median sales price in June was $241,445, a decrease of 8.2% from one year ago and an increase of 7.8% from May. 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 June averaged 61 days on the market (DOM), 3 days slower than June 2023.
Forecast: June sales were 16 units, or 17.1% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 96 sales for the month, while actual sales were 80 units. ACRE projected 495 sales year-to-date, while actual sales were 469, a difference of 5.2%
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.
