Calhoun County home down 2% year-over-year in May

According to the Calhoun County Board of Realtors, May residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 1.9% year-over-year from 160 to 157 closed transactions. Sales decreased 3.7% from April and are now up 1.2% 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 (544) decreased 0.7% from April and increased 12.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.5 months, up from 3.4 months in April and up from 3.4 in May 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 May was $199,900, consistent from one year ago and an increase of 5.3% 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 46 days on the market (DOM), 3 days slower than May 2023.

Forecast: May sales were 27 units, or 14.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 184 sales for the month, while actual sales were 157 units. ACRE forecast a total of 799 residential sales in the area year-to-date, while there were 688 actual sales through May, a difference of 13.9%.  

New Construction: The 9 new homes sold represent 5.7% of all residential sales in the area in May. Total sales didn’t change year-over-year. The median sales price in  May was $227,500, an increase of 4.5% from April and a decrease of 12.5% 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.