Sales: According to the Calhoun County Board of Realtors, November residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 30.9% year-over-year (Y/Y) from 188 to 130 closed transactions. Sales decreased 19.3% from October, and are now down 8.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: November listings (513) decreased 5.2% from October and increased 12.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.9 months, up from 3.4 months in October and up from 2.4 in November 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 November was $198,900, a record high and an increase of 13.7% from one year ago and an increase of 7.6% from October. 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 November averaged 32 days on the market (DOM), 5 days slower than November 2021.
Forecast: November sales were 42 units, or 24.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 172 sales for the month, while actual sales were 130 units. ACRE forecast a total of 2,195 residential sales in the area year-to-date, while there were 2,009 actual sales through November, a difference of 8.5%.
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.
