According to the Northeast Alabama Association of Realtors, November residential sales in the Gadsden area increased 2.9% year-over-year from 69 to 71 closed transactions. Contrary to seasonal trends, sales increased 1.4% from October. Sales are up 14.6% 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: November listings (291) decreased 2.0% from October and increased 11.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.1 months, down from 4.2 months in October, and up from 3.8 in November 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 November was $260,000, an increase of 13.0% from one year ago and an increase of 23.8% 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 73 days on the market, 26 days slower than November 2024.
Forecast: November sales were 4 units, or 4.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 75 sales for the month, while actual sales were 71 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.
