According to the Northeast Alabama Association of Realtors, April residential sales in the Gadsden area increased 23.6% year-over-year from 72 to 89 closed transactions. Following seasonal trends, sales increased 30.9% from March. Sales are down 9.9% 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: April listings (256) decreased 6.9% from March and increased 3.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, down from 4.0 last month, and down from 3.4 in April 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 April was $219,000, an increase of 15.9% from one year ago and an increase of 0.5% from March. 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 April averaged 50 days on the market, 6 days slower than April 2024.
Forecast: April sales were 6 units, or 6.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 83 sales for the month, while actual sales were 89 units.
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.
