According to the Calhoun County Board of Realtors, February residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 2.4% year-over-year (Y/Y) from 127 to 124 closed transactions. Sales decreased 17.0% from January and are now up 1.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: February listings (504) decreased 1.0% from January and increased 12.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.1 months, down from 4.8 months in January and up from 3.5 in February 2023. 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 February was $190,950, an increase of 6.1% from one year ago and an increase of 2.1% from January. 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 February averaged 60 days on the market (DOM), 8 days slower than February 2023.
Forecast: February sales were 33 units, or 21.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 157 sales for the month, while actual sales were 124 units. ACRE forecast a total of 289 residential sales in the area year-to-date, while there were 230 actual sales through February, a difference of 20.3%.
New Construction: The 9 new homes sold represent 7.3% of all residential sales in the area in February. Total sales decreased 10.0% year-over-year. The median sales price in February was $259,900, an increase of 22.8% from January and a decrease of 1.0% from one year ago.
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.
