March 2016 Cullman County & Smith Lake Real Estate Market Update

Haley May
Published on April 15, 2016

March 2016 Cullman County & Smith Lake Real Estate Market Update

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The spring selling season is upon us, and the newly released data from the Cullman Association of Realtors, further proves this fact. The Cullman real estate market is steadily increasing inventory, while gaining more home buyers. As the demand for homes increase, the days on market will continue to decrease proving it is a great time to get your house on the market! Let’s dive into the statistics a little more.

 

  • New Listings: 150 (up 32% from 2015)
  • Sold Listings: 72 (up 16% from 2015)
  • Total Active Listings: 2,326 (up 15% from 2015)
  • Average Sale Price: $131,905 (down -3.5% from 2015)
  • List to Sold Price Ratio: 95% (93% in March 2015)
  • Days on Market: 154 (up 12% from 2015)

 

 

As you can tell with supply up 32% for the month of March, sellers are catching on to the “Spring Selling Season.” However, it is interesting to see that with such a high percentage of new listing over prior year, we continue to see an increase in demand. Not only were sales up 16% for the month of March, they were also up 53% from February 2016 alone.

 

Smith Lake Stats

As for Smith Lake home sales, we are starting to see the same growth in sales. While year to date lake home sales are down 63% from 2015, we are starting to see an increase from month to month. Total active Lake Listings is 391 units, up 15% from 2015. In March alone we saw an increase in sales of 300% from February 2016. These numbers will be important to follow in the coming months, as trends show the month of June to consistently bring significant increase in lake home sales. In 2015 there was an increase of 42% from May to June.

 

Currently this year total home sales in the Cullman market are up 6% year to date, and up 75% from the month of February. Not only are sales consistently trending upward, homes are selling at an average of 95% of the original list price!

 

If you want to know more and are eager to take advantage of the “Spring Selling Season” give me a call, and be sure to check out my earlier blog post, 4 Steps to Get Your Home Ready for the Spring Real Estate Market . I can help you find the perfect home as more and more new homes become available, or help you sale your home fast as the demand for beautiful home increases. Let me put my knowledge and expertise of the Cullman County & Smith Lake area to work for you.

 

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