According to the Cullman Association of Realtors, July residential sales increased 3.6% from one year ago. Sales increased 14.5% 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 11.9% year-over-year from 395 to 442 listings and increased 1.1% from June. Months of supply (inventory to sales ratio) decreased from 5.8 months in June to 5.1 months in July. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in July was $236,000, a decrease of 1.7% from one year ago and a slight decrease of 0.4% 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 51 days on the market (DOM), 2 days faster than July 2024.
Forecast: July sales were 1 unit, or 0.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 86 sales for the month, while actual sales were 87 units. ACRE projected 570 sales year-to-date, while actual sales were 548, a difference of 3.8%.
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.
