Sales: According to the Calhoun County Board of Realtors, November residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 29.6% year-over-year (Y/Y) from 125 to 162 closed transactions. Sales decreased 38.9% from October, and are now up 23.6% 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 November decreased 14% year-over-year from 674 to 580 listings. Months of supply (inventory to sales ratio) decreased from 5.4 to 3.6, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in November was $160,000, an increase of 16.4% from one year ago and an increase of 14.3% to October. 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 November averaged 55 days on the market (DOM), the same as November 2019.
Forecast: November sales were 24 units, or 17.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 162 sales for the month, while actual sales were 138 units. ACRE forecast a total of 1,677 residential sales in the area year-to-date, while there were 2,004 actual sales through November, a difference of 19.5%.
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 November 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.