Sales: According to the Calhoun County Board of Realtors, March residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 5.3% year-over-year (Y/Y) from 208 to 197 closed transactions. Sales increased 24.7% from February. Total residential sales in the area are up 2.8% 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 (457) in March decreased 6.4% year-over-year, marking twenty-one months of Y/Y decreases. At the current sales pace, all the active inventory on the market would sell in 2.3 months, down from 2.7 months in February and the same as 2.3 months in March 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 March was $175,000, an increase of 22.4% from one year ago and an increase of 6.1% 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 March averaged 36 days on the market (DOM), 29 days faster than March 2021.
Forecast: March sales were 9 units, or 4.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 206 sales for the month, while actual sales were 197 units. ACRE forecast a total of 530 residential sales in the area year-to-date, while there were 543 actual sales through March, a difference of 2.4%.
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 March 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.