Cullman-area home sales declined 35.1% year-over-year in December

Sales: According to the Cullman Association of Realtors, December residential sales decreased 35.1% year-over-year from 131 to 85 closed transactions. Following seasonal trends, sales increased 7.6% from November. Sales were down 12.6% in 2022.

Two more resources for review: Quarterly Report and Annual Report.

Inventory: Total homes listed for sale in December increased 51% year-over-year from 200 to 302 listings. Months of supply (inventory to sales ratio) decreased from 4.2 months in November to 3.6 months in December, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in December was $228,500, a decrease of 2.8% from one year ago and 6.6% from November. 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 December on average 54 days on the market, 19 days longer than in December 2021.

Forecasts: December sales were 22 units, or 20.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 107 sales for the month, while actual sales were 85 units. ACRE forecasts a total of 1,270 residential sales in the Cullman County area in 2022, while there were 1,143 actual sales through December, a difference of 10%.

Click here to view the entire monthly report.

The Cullman County Residential Monthly Report was developed in conjunction with the Cullman Association of Realtors to better serve consumer areas.

Similar Posts