According to the Cullman Association of Realtors, August residential sales decreased 9.5% from last year. Sales increased 2.4% from July. 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 August increased 38.2% year-over-year from 304 to 420 listings. Months of supply (inventory to sales ratio) increased from 4.7 months in July to 4.9 months in August, reflecting a market where buyers generally have decreased bargaining power.
Pricing: The area’s median sales price in August was $255,322, an increase of 10.6% from one year ago and an increase of 6.4% from July. 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 August averaged 46 days on the market (DOM), 4 days slower than August 2023.
Forecast: August sales were 14 units, or 14.4% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 100 sales for the month, while actual sales were 86 units. ACRE projected 684 sales year-to-date, while actual sales were 639, a difference of 6.6%
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.
