Local News
REAL ESTATE: Numbers show slight third-quarter slowdown
By Noah ChandlerAfter a hot start to home sales in Cullman this year, sales took a slight dip in the third quarter.
According to statistics released by the Cullman Association of Realtors, between 2006 and 2007 the number of days on the market and average cost of home has stayed relatively consistent while number of homes sold and homes on the market indicate a slowdown.
From January through March of 2007 there were 201 homes sold, compared with 181 sold in the same period last year. However, from July through September 2006 276 homes were sold compared to only 247 sold in the same period this year.
According to Jeanice Gallin, the President of the Cullman Association of Realtors, the dip in sales was an expected one, given the time of year.
“Generally we see a decline when school starts up,” Gallin said. “People usually gear up for the holidays, but our sales are good. Cullman is a unique area. We are centrally located between Huntsville and Birmingham, which allows for good year-round sales.”
In 2006 the average cost of a home between January through September was $132,656.44, while in 2007 the cost was solidly higher — $140,574.11.
“We have had some higher end property sold recently, but the overall increase is fair,” Gallin said. “The majority of our sales are below $175,000. It only takes a few high-end properties to raise the average.”
Overall the housing market in Cullman has stayed steady over the past year, despite a small drop in the third quarter. According to Gallin, the Cullman area has always been a good place to buy a home.
“Cullman is great place to live,” Gallin said. “The vendors are good. The housing is good. So why not buy a home here?”
Gallin said younger adults should be considering buying a home rather than renting. One reason for this, she said, was to establish good credit for the buyer instead of the landlord.
“Almost anyone can buy a home that has decent credit and a steady income,” Gallin said. “It is in our nature to buy when we have money. Why not take advantage of good, low interest rates. Don’t wait.”
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