According to the Cullman Association of Realtors, September residential sales decreased 6.6% from last year. Sales decreased 17.4% from August. 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 September increased 38.6% year-over-year from 303 to 420 listings and unchanged from August. Months of supply (inventory to sales ratio) increased from 4.9 months in August to 5.9 months in September, reflecting a market where buyers generally have decreased bargaining power.
Pricing: The area’s median sales price in September was $257,000, an increase of 7.8% from one year ago and an increase of 0.7% from August. 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 September averaged 45 days on the market (DOM), 11 days slower than September 2023.
Forecast: September sales were 17 units, or 18.9% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 88 sales for the month, while actual sales were 71 units. ACRE projected 772 sales year-to-date, while actual sales were 710, a difference of 8.0%
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.
