According to the Northeast Alabama Association of Realtors, July residential sales in the Gadsden area decreased 22.0% year-over-year from 82 to 64 closed transactions. Following seasonal trends, sales decreased 18.0% from June. Sales are down 8.9% 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: July listings (311) decreased 0.6% from June and increased 16.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.9 months, up from 4.0 months in June, and up from 3.3 in July 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 July was $212,500, an increase of 2.7% from one year ago and a decrease of 1.1% 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 61 days on the market, 10 days slower than July 2024.
Forecast: July sales were 32 units, or 33.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 96 sales for the month, while actual sales were 64 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.
