According to the Northeast Alabama Association of Realtors, February residential sales in the Gadsden area decreased 11.8% year-over-year from 68 to 60 closed transactions. Following seasonal trends, sales increased 25.0% from January. Sales are now down 19.4% 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: February listings (265) increased 6.4% from January and increased 18.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.4 months, down from 5.2 last month, and up from 3.3 in February 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 February was $175,500, an increase of 0.3% from one year ago and a decrease of 8.1% from January. 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 February averaged 53 days on the market, 1 day slower than February 2024.
Forecast: February sales were 13 units, or 18.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 73 sales for the month, while actual sales were 60 units.
New Construction: The were no new homes sold in the area in February.
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.
