Sales: According to the Calhoun County Board of Realtors, November residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 16.1% year-over-year (Y/Y) from 162 to 188 closed transactions. Sales decreased 22.6% from October. Total residential sales in the area are up 9.7% 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 November decreased 21.0% year-over-year from 580 to 458 listings. At the current sales pace, all the active inventory on the market would sell in 2.4 months, up from 2.0 months in October and down from 3.6 months in November 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 November was $174,950, an increase of 9.3% from one year ago and 3.0% from October. 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 November averaged 37 days on the market (DOM), 18 days faster than November 2020.
Forecast: November sales were 26 units, or 15.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 162 sales for the month, while actual sales were 188 units. ACRE forecast a total of 1,979 residential sales in the area year-to-date, while there were 2,198 actual sales through November, a difference of 11.0%.
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 November 1 – 30, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results.