Sales: According to the Calhoun County Area Board of Realtors, May residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 37.1% year-over-year (Y/Y) from 143 to 196 closed transactions. Sales are now up 18.2% year-to-date. Following seasonal trends, sales increased 16.7% from April. 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 May decreased 7.7% year-over-year from 545 to 503 listings. Months of supply (inventory to sales ratio) decreased from 3.8 to 2.6, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in May was $159,900, an increase of 14.3% from one year ago and an increase of 5.7% 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 May averaged 31 days on the market (DOM), a record low and 33 days faster than May 2020.
Forecast: May sales were 7 units, or 3.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 203 sales for the month, while actual sales were 196 units. ACRE forecasted a total of 845 residential sales year-to-date, while there were 892 actual sales through May, a difference of 5.5%.
New Construction: The 15 new homes sold represent 8.9% of all residential sales in the area in May. Total sales increased 36.4% year-over-year, following April’s decline in new home sales. The median sales price in May was $199,145, an increase of 13.3% from one year ago and an increase of 8.1% from April. New homes sold in an average of 0 days on the market, 2 days faster than May 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 May 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.