Calhoun County home sales rise in March

Sales: According to the Calhoun County Area Board of Realtors, March residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 18.2% year-over-year (Y/Y) from 176 to 208 closed transactions. Sales are now up 17.1% year-to-date. Following seasonal trends, sales increased 27.6% from February. 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 March decreased 15.4% year-over-year from 577 to 488 listings. Months of supply (inventory to sales ratio) decreased from 3.3 to 2.3, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in March was $143,000, an increase of 10% from one year ago and a decrease of 4.6% from February. 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 March averaged 65 days on the market (DOM), 11 days faster than March 2020.

Forecast: March sales were 29 units, or 16.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 179 sales for the month, while actual sales were 208 units. ACRE forecast a total of 461 residential sales year-to-date, while there were 528 actual sales through March, a difference of 14.6%.

New Construction: The 13 new homes sold represent 6.3% of all residential sales in the area in March. Total sales decreased 31.6% year-over-year, following February’s decline in new home sales. The median sales price in March was $187,900, an increase of 4.4% from one year ago and a decrease of 2.6% from February. New homes sold in an average of 10 days on the market, 16 days faster than March 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 March 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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