According to the Calhoun County Board of Realtors, March residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 13.2% year-over-year (Y/Y) from 159 to 138 closed transactions. Sales increased 11.3% from February and are now down 4.4% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: March listings (535) increased 6.2% from February and increased 16.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.9 months, down from 4.1 months in February and up from 2.9 in March 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 March was $187,950, an increase of 4.5% from one year ago and a decrease of 1.6% 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 60 days on the market (DOM), 5 days slower than March 2023.
Forecast: March sales were 40 units, or 22.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 178 sales for the month, while actual sales were 138 units. ACRE forecast a total of 446 residential sales in the area year-to-date, while there were 368 actual sales through March, a difference of 17.5%.
New Construction: The 8 new homes sold represent 5.8% of all residential sales in the area in March. Total sales increased 0.0% year-over-year. The median sales price in March was $201,400, a decrease of 22.5% from February and a decrease of 6.3% 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.
