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Cullman Real Estate Prices, Sales Soar; Unemployment Down Drastically

by | May 30, 2017 | Breaking News, Business, City News, County News, Cullman, Cullman City, Get Smart, Good Hope, Hanceville

image by: Joseph Carter Realty

Cullman Real Estate Prices, Sales Soar; Unemployment Down Drastically

If you own a residential property in Cullman County, it is worth on average 8.4% more than this time last year.

The median residential sales price in the County sits at $130,000. That is significantly up from the median price of $119,900 in April 2016.

According to the Cullman Multiple Listing Service, residential sales in Cullman totaled 79 units during April. That is up 14% from the same period in 2016.

Demand for residential is up as well. April 2017 residential sales increased 18 percent from the prior month.

This direction contrasts with historical data indicating that April sales on average (2012-16) decrease from March by 1.4 percent.

Days on the market until a listing sold was 118 days, 21 percent faster than the same period in 2016 (149 days).

The Alabama Department of Labor announced last week that Cullman County has the state’s third-lowest unemployment rate of 3.7%. The previous month’s rate was 4.5%.

What does all this mean? It means the real estate market in Cullman is heating up to the benefit of property owners and real estate agencies.

It also indicates the job market is advantageous for would-be employees.

On the downside, it also lends empirical credence to the concerns of local businesses struggling to acquire quality employees and a challenge to their future expansion plans.

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Cullman Real Estate Prices, Sales Soar; Unemployment Down Drastically

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The staff writers at Cullman Today are a collaborative group of citizen reporters sharing the writing of stories based upon their personal interests and work schedules.

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