Sales: According to the Calhoun County Board of Realtors, August residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 2.5% year-over-year (Y/Y) from 199 to 204 closed transactions. Sales decreased 13.6% from July, and are now up 14.6% 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 August decreased 1.5% year-over-year from 684 to 674 listings. Months of supply (inventory to sales ratio) decreased from 3.4 to 3.3, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in August was $149,900, an increase of 3.5% from one year ago and equal to July. 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 August averaged 56 days on the market (DOM), 5 days faster than August 2019.
Forecast: August sales were 18 units, or 9.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 186 sales for the month, while actual sales were 204 units. ACRE forecast a total of 1,239 residential sales in the area year-to-date, while there were 1,369 actual sales through August, a difference of 10.5%.
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 August 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.