According to the Cullman Association of Realtors, August residential sales decreased 9.3% from one year ago. Sales decreased 10.3% from July. 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 August decreased 1.4% year-over-year from 420 to 414 listings and decreased 6.3% from July. Months of supply (inventory to sales ratio) increased from 5.1 months in July to 5.3 months in August. 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 August was $257,000, a slight increase of 0.7% from one year ago and an increase of 8.9% from July. 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 August averaged 52 days on the market (DOM), 6 days slower than August 2024.
Forecast: August sales were 22 units, or 21.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 100 sales for the month, while actual sales were 78 units. ACRE projected 670 sales year-to-date, while actual sales were 626, a difference of 6.5%.
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.
