Sales: According to the Calhoun County Board of Realtors, May residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 20.4% year-over-year (Y/Y) from 201 to 160 closed transactions. Sales increased 18.5% from April, and are now down 27.4% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: May listings (485) increased 4.3% from April and decreased 6.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.0 months, down from 3.4 months in April and up from 2.6 in May 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in May was $199,900, an increase of 14.3% from one year ago and an increase of 24.9% 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 43 days on the market (DOM), 15 days slower than May 2022.
Forecast: May sales were 13 units, or 7.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 173 sales for the month, while actual sales were 160 units. ACRE forecast a total of 753 residential sales in the area
year-to-date, while there were 680 actual sales through May, a difference of 9.7%.
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.
