ALABAMA REAL ESTATE JOURNAL

Calhoun County home sales up in September

Sales: According to the Calhoun County Board of Realtors, September residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 25.3% year-over-year (Y/Y) from 166 to 208 closed transactions. Sales increased 2% from August, and are now up 15.9% 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 September decreased 16.5% year-over-year from 720 to 601 listings. Months of supply (inventory to sales ratio) decreased from 4.3 to 2.9, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in September was $154,900, an increase of 11.1% from one year ago and an increase of 3.3% to August. 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 September averaged 57 days on the market (DOM), 4 days slower than September 2019.

Forecast: September sales were 54 units, or 35.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 154 sales for the month, while actual sales were 208 units. ACRE forecast a total of 1,393 residential sales in the area year-to-date, while there were 1,577 actual sales through September, a difference of 13.2%.

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 September 1 – 30, 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.

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