According to the Cullman Association of Realtors, May residential sales decreased 1.1% from last year. Sales increased 19.0% from April. 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 May increased 14.4% year-over-year from 382 to 437 listings and increased 4.1% from April. Months of supply (inventory to sales ratio) decreased from 5.3 months in April to 4.6 months in May. 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 May was $238,660, an increase of 6.6% from one year ago and a slight decrease of about 1.0% from April. 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 May averaged 55 days on the market (DOM), 8 days slower than May 2024.
Forecast: May sales were 94 units, matching the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 94 sales for the month, while actual sales were 94 units. ACRE projected 387 sales year-to-date, while actual sales were 385, a difference of 0.6%
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.
