According to the Northeast Alabama Association of Realtors, October residential sales in the Gadsden area decreased 5.4% year-over-year from 74 to 70 closed transactions. Following seasonal trends, sales decreased 1.4% from September. Sales are up 4.7% 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: October listings (297) decreased 8.3% from September and increased 9.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, down from 4.6 months in September, and up from 3.7 in October 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 October was $210,000, an increase of 4.3% from one year ago and a decrease of 10.6% from September. 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 October averaged 68 days on the market, 18 days slower than October 2024.
Forecast: October sales were 10 units, or 12.75%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 80 sales for the month, while actual sales were 70 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.
