ALABAMA REAL ESTATE JOURNAL

Calhoun County home sales rise in April

Sales: According to the Calhoun County Area Board of Realtors, April residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 4.4% year-over-year (Y/Y) from 161 to 168 closed transactions. Sales are now up 13.7% year-to-date. Following seasonal trends, sales decreased 19.2% from March. 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 April decreased 6.5% year-over-year from 556 to 520 listings. Months of supply (inventory to sales ratio) decreased from 3.5 to 3.1, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in April was $151,250, an increase of 0.9% from one year ago and an increase of 5.8% 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 April averaged 40 days on the market (DOM), a record low and 39 days faster than April 2020.

Forecast: April sales were 13 units, or 7.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 181 sales for the month, while actual sales were 168 units. ACRE forecast a total of 642 residential sales year-to-date, while there were 696 actual sales through April, a difference of 8.4%.

New Construction: The 16 new homes sold represent 9.5% of all residential sales in the area in April. Total sales increased 166.7% year-over-year, following March’s decline in new home sales. The median sales price in April was $184,281, a decrease of 11.5% from one year ago and a decrease of 1.9% from February. New homes sold in an average of 4 days on the market, 41 days faster than April 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 April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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