Cherokee County home prices fall 7.7% in August, with houses for sale in high demand

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A townhome for sale in August in Dallas, North Carolina, is shown. Median prices in August were lower in 37 states than they'd been a month earlier, Realtor.com data shows.
A townhome for sale in August in Dallas, North Carolina, is shown. Median prices in August were lower in 37 states than they'd been a month earlier, Realtor.com data shows.

A typical Cherokee County home listed for $299,900 in August, down 7.7% from the previous month's $325,000, an analysis of data from Realtor.com shows.

The median list home price in August was down about 23.1% from August 2021. Cherokee County's median home was 2,076 square feet for a listed price of $174 per square foot.

The Cherokee County market was busy, with a median 57 days on market. A month earlier, homes had a median 50 days on market. The market added 28 new home listings in August, compared with the 28 added in August 2021. The market ended the month with some 83 listings of homes for sale.

The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

What were Gadsden-area home prices in August? Here's a county-by-county breakdown

Marshall County's home prices fell 3%, to a median $319,950, from a month earlier. The typical house was on the market for 45 days, from 39 days a month earlier. The typical 2,180-square-foot house had a list price of $145 per square foot.

Calhoun County's home prices rose 4.5%, to a median $187,900, from a month earlier. The typical house was on the market for 49 days, from 43 days a month earlier. The typical 1,846-square-foot house had a list price of $95 per square foot.

St. Clair County's home prices fell 3.6%, to a median $303,500, from a month earlier. The typical house was on the market for 51 days, from 39 days a month earlier. The typical 1,998-square-foot house had a list price of $163 per square foot.

Blount County's home prices fell 8.6%, to a median $264,950, from a month earlier. The typical house was on the market for 47 days, from 37 days a month earlier. The typical 1,918-square-foot house had a list price of $150 per square foot.

Across metro Gadsden, median home prices rose to $229,900, up 2.2% from a month earlier. The median home had 1,953 square feet, at a list price of $106 per square foot.

Across all of Alabama, median home prices were $325,000, similar to the previous month. The median Alabama home for sale had 2,005 square feet at list price of $153 per square foot.

Across the United States, median home prices were $435,050, down 3.1% from a month earlier. The median American home for sale had 1,890 square feet, listed at $222 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on The Gadsden Times: Cherokee County homes for sale drop to $299,900 median price