According to the Northeast Alabama Association of Realtors, June residential sales in the Gadsden area increased 1.3% year-over-year from 77 to 78 closed transactions. Following seasonal trends, sales decreased 16.1% from May. Sales are down 6.6% 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: June listings (313) increased 17.2% from May and increased 22.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.0 months, up from 2.9 months in May, and up from 3.3 in June 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 June was $214,950, an increase of 2.4% from one year ago and a decrease of 2.3% from May. 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 June averaged 31 days on the market, 25 days faster than June 2024.
Forecast: June sales were 19 units, or 19.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 97 sales for the month, while actual sales were 78 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.
