According to the Cullman Association of Realtors, November residential sales decreased 38.4% from one year ago. Sales decreased by 31.8% from October. 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 November increased 12.5% year-over-year from 383 to 431 listings and decreased 0.9% from October. Months of supply (inventory to sales ratio) increased from 6.6 months in October to 9.6 months in November. 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 November was $293,342, increasing 7.5% from one year ago and an increase of 9.1% from October. 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 November averaged 47 days on the market (DOM), 2 days faster than November 2024.
Forecast: November sales were 29 units, or 39.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 74 sales for the month, while actual sales were 45 units. ACRE projected 907 sales year-to-date, while actual sales were 805, a difference of 11.28%.
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.
