ALABAMA REAL ESTATE JOURNAL

Calhoun County median home sale price reaches record high in October

Sales: According to the Calhoun County Board of Realtors, October residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 33.7% year-over-year (Y/Y) from 243 to 161 closed transactions. Sales decreased 12.0% from September, and are now down 6.5% year-to-date. Two more resources to review: Quarterly Report and Annual Report.  

For all of Calhoun County’s housing data, click here.

Inventory: October listings (541) decreased 3.7% from September and increased 12.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.4 months, up from 3.1 months in September and up from 2.0 in October 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 October was $184,911, a record high and an increase of 10.6% from one year ago and an increase of 5.7% from September. 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 October averaged 35 days on the market (DOM), 1 day faster than October 2021. 

Forecast: October sales were 59 units, or 26.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 220 sales for the month, while actual sales were 161 units. ACRE forecast a total of 2,023 residential sales in the area year-to-date, while there were 1,879 actual sales through October, a difference of 7.1%. 

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.

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