Gadsden Homes Selling 35 Days Faster On Average Compared To Last July

By ACRE Research

Sales: According to the Valley Multiple Listing Service, Gadsden-area sales totaled 77 units during July, down 11.5 percent from 87 sales in the same month a year earlier. Similarly, July sales were down 25.2 percent compared to 103 sales in June. Results were 13.2 percent above the five-year July average of 68 sales. Two more resources to review: Quarterly Report and  Annual Report.

For all Gadsden-area housing data, click here. 

Inventory: Homes listed for sale in the Gadsden area during July totaled 507 units, a decrease of 5.1 percent from July 2017’s 534 units, and an increase of 5.4 percent from June 2018’s 481 units. Gadsden experienced a year-over-year increase in months of supply. July months of supply totaled 6.6 months, an increase of 7.3 percent from July 2017’s 6.1 months of supply. July’s months of supply also increased from June’s 4.7 months of supply.Pricing: The Gadsden median sales price in July was $131,000, a decrease of 3 percent from one year ago and a decrease of 3.3 percent from the prior month. Historical data (2013-17) indicate that the July median sales price on average decreases from June by 9.8 percent. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE highly recommends consulting with a local real estate professional to discuss pricing trends, as they will vary from neighborhood to neighborhood. The homes selling in July spent an average of 105 days on the market (DOM), a decrease of 25 percent from 140 days in July 2017.

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