According to the Northeast Alabama Association of Realtors, January residential sales in the Gadsden area decreased 27.3% year-over-year from 66 to 48 closed transactions. Contrary to seasonal trends, sales decreased 46.1% from December. Sales are now down 27.3% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Gadsden area’s housing data, click here.
Inventory: January listings (249) decreased 2.7% from December and increased 14.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.2 months, up from 2.9 last month, and up from 3.3 in January 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in January was $190,950, an increase of 23.2% from one year ago and a decrease of 5.9% from December. 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 January averaged 58 days on the market, 15 days slower than January 2024.
Forecast: January sales were 10 units, or 16.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 58 sales for the month, while actual sales were 48 units.
New Construction: The were no new homes sold in the area in January.
Click here to view the entire monthly report.
The Gadsden Residential Monthly Report is developed in conjunction with the Northeast Alabama Association of Realtors to better serve area consumers.
