Calhoun County home sales rise in February

Sales: According to the Calhoun County Area Board of Realtors, February residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 13.2% year-over-year (Y/Y) from 144 to 163 closed transactions. Sales are now up 16.4% year-to-date. Following seasonal trends, sales increased 3.8% from January. 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 February decreased 13.5% year-over-year from 565 to 489 listings. Months of supply (inventory to sales ratio) decreased from 3.9 to 3.0, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in February was $149,900, an increase of 15.4% from one year ago and a decrease of 3.2% from January. 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 February averaged 57 days on the market (DOM), 39 days faster than February 2020.

Forecast: February sales were 21 units, or 14.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 142 sales for the month, while actual sales were 163 units. ACRE forecast a total of 282 residential sales year-to-date, while there were 320 actual sales through February, a difference of 13.6%.

New Construction: The 16 new homes sold represent 9.8% of all residential sales in the area in February. Total sales decreased 11.1% year-over-year, ending 18 consecutive months of Y/Y gains in new home sales. The median sales price in February was $192,900, an increase of 10.3% from one year ago and an increase of 17% from January. New homes sold in an average of 10 days on the market, 5 days slower than February 2020.

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 February 1 – 28, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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