Sales: According to the Calhoun County Board of Realtors, August residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 16.9% year-over-year (Y/Y) from 219 to 182 closed transactions. Sales decreased 2.2% from July, and are now down 2.5% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: August listings (570) decreased 0.7% from July and increased 2.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.1 months, the same as July and up from 2.5 in August 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-5 months of supply.
Pricing: The area’s median sales price in August was $169,900, a decrease of 5.6% from one year ago and a decrease of 4.8% from July. 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 August averaged 36 days on the market (DOM), 11 days slower than August 2021.
Forecast: August sales were 39 units, or 17.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 221 sales for the month, while actual sales were 182 units. ACRE forecast a total of 1,600 residential sales in the area year-to-date, while there were 1,535 actual sales through August, a difference of 4.1%.
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.
