Calhoun County home sales increase significantly in October

Sales: According to the Calhoun County Board of Realtors, October residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 94.8% year-over-year (Y/Y) from 136 to 265 closed transactions. Sales increased 27.4% from September, and are now up 23.1% 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 October decreased 8% year-over-year from 691 to 636 listings. Months of supply (inventory to sales ratio) decreased from 5.1 to 2.4, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in October was $140,000, an increase of 2% from one year ago and a decrease of 9.6% to September. 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 October averaged 53 days on the market (DOM), 1 days slower than October 2019.

Forecast: October sales were 119 units, or 81.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 146 sales for the month, while actual sales were 265 units. ACRE forecast a total of 1,539 residential sales in the area year-to-date, while there were 1,842 actual sales through October, a difference of 19.7%.

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 October 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.

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