Sales: According to the Calhoun County Board of Realtors, March residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 19.3% year-over-year (Y/Y) from 197 to 159 closed transactions. Sales increased 25.2% from February, and are now down 29.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: March listings (461) increased 2.7% from February and increased 0.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, down from 3.5 months in February and up from 2.3 in March 2022. 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 March was $179,900, an increase of 2.8% from one year ago and an increase of 0.0% 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 55 days on the market (DOM), 19 days slower than March 2022.
Forecast: March sales were 12 units, or 6.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 171 sales for the month, while actual sales were 159 units. ACRE forecast a total of 419 residential sales in the area year-to-date, while there were 385 actual sales through March, a difference of 8.2%.
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.
