Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: According to the Cullman MLS, Cullman County area residential sales totaled 57 units during December, up 63 percent from the same month a year earlier. Total 2016 sales were up 6 percent from 2015 sales. Two more resources to review: Quarterly Report and Annual Report.

For all of Cullman’s real estate data, click here.

Cullman home sales through December rose 6 percent over 2015.

Demand: December residential sales decreased 3.4 percent from the prior month. This direction is consistent with historical data indicating that December sales on average (2011-15) decrease from November by 12.7 percent. Days on the market until a listing sold was 111 days, 15.3 percent faster than the same period in 2015 (131 days).

Forecast: December sales were 14 units or 32 percent above the Alabama Center for Real Estate’s monthly forecast. ACRE’s year-to-date sales forecast through December projected 684 closed transactions, while the actual sales were 741, a favorable difference of 8 percent.

Supply: Cullman County area housing inventory totaled 466 units, which is 13 percent below the supply in December 2015. The inventory-to-sales ratio in December was 8.2 months of housing supply. Restated, at the December sales pace, it would take 8.2 months to absorb the current inventory for sale. This is 65 percent lower than the 2009 peak (15.3 months of supply). The market equilibrium (balance between supply and demand) for December is approximately 6 months, so continued improvement in this area would be welcome news.

Pricing: The Cullman County median sales price in December was $123,000, a decrease of 5.3 percent from December 2015 ($129,900). The median sales price was 14 percent below the prior month. This direction contrasts with historical data (2011-15) reflecting that the December median sales price on average increases from November by 0.1 percent. Pricing can fluctuate from month to month as the sample size of data (closed transactions) is subject to seasonal buying patterns. ACRE recommends consulting a local real estate professional.

Industry perspective: “The tenor of our forecast effectively remains unchanged: signs of cautious consumers this quarter, rising interest rates, the renewed increase in the U.S. dollar to a 14-year high, and heightened uncertainty in the political sphere suggest conservatism in our outlook,” said Fannie Mae Chief Economist Doug Duncan. “While we are encouraged that confidence is rising across investors, consumers, businesses, economists and homebuilders, much of it appears to be in anticipation that the forthcoming Administration and the new Congress will enact fiscal policies and deregulation that will help spur growth. While we believe that some pro-growth policies could be adopted next year, it would take time for them to benefit the economy, barring any offsetting initiatives such as more restrictive trade policies.”

Click here to generate more graphs from the Cullman December Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply. 

The Cullman County Residential Monthly Report is developed in conjunction with the Cullman Association of Realtors to better serve Cullman-area consumers.