Calhoun County home sales down 8% in October

Sales: According to the Calhoun County Board of Realtors, October residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 8.3% year-over-year (Y/Y) from 265 to 243 closed transactions. Following seasonal trends, sales increased 25.9% from September. Total residential sales in the area are up 9.1% 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 October decreased 24.7% year-over-year from 636 to 479 listings. At the current sales pace, all the active inventory on the market would sell in 2.0 months, down from 2.7 months in September and from 2.4 months in October 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply. 

Pricing: The area’s median sales price in October was $169,900, an increase of 21.4% from one year ago and a decrease of 2.1% from September. 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 October averaged 34 days on the market (DOM), 19 days faster than October 2020. 

Forecast: October sales were 58 units, or 31.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 185 sales for the month, while actual sales were 243 units. ACRE forecast a total of 1,817 residential sales in the area year-to-date, while there were 2,010 actual sales through October, a difference of 10.6%. 

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 October 1 – 31, 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.