According to the Cullman Association of Realtors, July residential sales decreased 2.3% from last year. Sales increased 5.0% from June. 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 July increased 7.6% year-over-year from 367 to 395 listings. Months of supply (inventory to sales ratio) decreased from 4.9 months in June to 4.7 months in July, reflecting a market where buyers generally have decreased bargaining power.
Pricing: The area’s median sales price in July was $240,000, a decrease of 4.0% from one year ago and a decrease of 0.6% from June. 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 July averaged 53 days on the market (DOM), 2 days faster than July 2023.
Forecast: July sales were 5 units, or 5.9% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 89 sales for the month, while actual sales were 84 units. ACRE projected 584 sales year-to-date, while actual sales were 553, a difference of 5.3%
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.
