According to the Calhoun County Board of Realtors, October residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 23.6% year-over-year (Y/Y) from 161 to 123 closed transactions. Sales decreased 18% from September, and are now down 21.8% 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 (493) increased 12.4% from September and decreased 8.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.0 months, up from 3.8 months in September and up from 3.4 in October 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 October was $189,900, an increase of 2.7% from one year ago and a decrease of 5.1% 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 39 days on the market (DOM), 4 days slower than October 2022.
Forecast: October sales were 23 units, or 18.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 122 sales for the month, while actual sales were 99 units. ACRE forecast a total of 1,651 residential sales in the area year-to-date, while there were 1,469 actual sales through October, a difference of 11%.
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.