Sales: According to the Calhoun County Board of Realtors, July residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 29% year-over-year (Y/Y) from 183 to 236 closed transactions. Largely due to pent-up demand, sales increased 35.6% from June. Total residential sales in the area are up 15.2% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: Total homes listed for sale in July decreased 8% year-over-year from 750 to 690 listings. Months of supply (inventory to sales ratio) decreased from 4.1 to 2.9, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in July was $149,900, an increase of 19.9% from one year ago and an increase of 1.7% from June. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.
Homes sold in July averaged 63 days on the market (DOM), 5 days faster than July 2019.
Forecast: July sales were 70 units, or 42.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 166 sales for the month, while actual sales were 236 units. ACRE forecast a total of 1,053 residential sales in the area year-to-date, while there were 1,165 actual sales through July, a difference of 10.6%.
Click here to view the entire monthly report.
The Calhoun County Residential Monthly Report is developed in conjunction with the Calhoun County Board of Realtors to better serve area consumers.
Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period July 1 – 31, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market.
