Tight inventory continues to drive price growth in Calhoun County’s housing market

Sales: According to the Calhoun County Board of Realtors, January residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 19.8% year-over-year (Y/Y) from 157 to 188 closed transactions. Sales decreased 1.6% from December. Total residential sales in the area are up 19.8% 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 (458) in January decreased 12.6% year-over-year. At the current sales pace, all the active inventory on the market would sell in 2.4 months, up from 2.3 months in December and down from 3.3 months in January 2021. 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 January was $174,950, an increase of 12.9% from one year ago and an increase of 1.4% from December. 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 January averaged 37 days on the market (DOM), 5 days faster than January 2021. 

Forecast: January sales were 29 units, or 18.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 159 sales for the month, while actual sales were 188 units. ACRE forecast a total of 159 residential sales in the area year-to-date, while there were 188 actual sales through January, a difference of 18.2%. 

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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.

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