Sales: According to the Calhoun County Board of Realtors, May residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 2.6% year-over-year (Y/Y) from 196 to 201 closed transactions. Following seasonal trends, sales increased 4.7% from April. Total residential sales in the area are up 4.9% 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 (521) in May increased 1.0% from April and increased 3.6% year-over-year. At the current sales pace, all the active inventory on the market would sell in 2.6 months, down from 2.7 months in April and equal to May 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-6 months of supply.
Pricing: The area’s median sales price in May was $174,900, an increase of 9.4% from one year ago and a decrease of 4.1% from April. 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 28 days on the market (DOM), 3 days faster than May 2021.
Forecast: May sales were 7 units, or 3.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 208 sales for the month, while actual sales were 201 units. ACRE forecast a total of 930 residential sales in the area year-to-date, while there were 936 actual sales through May, a difference of 0.7%.
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.