According to the Calhoun County Board of Realtors, August residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 8.2% year-over-year (Y/Y) from 158 to 171 closed transactions. Sales increased 8.9% from July and are now down 5.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: August listings (622) increased 1.5% from July and increased 28.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.6 months, down from 3.9 months in July and up from 2.5 in August 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 August was $199,900, an increase of 5.3% from one year ago and down 9.1% from July. 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 August averaged 47 days on the market (DOM), 5 days slower than August 2023.
Forecast: August sales were 21 units, or 14.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 150 sales for the month, while actual sales were 171 units. ACRE forecast a total of 1,318 residential sales in the area year-to-date, while there were 1,153 actual sales through August, a difference of 12.5%.
New Construction: The 12 new homes sold represent 7.0% of all residential sales in the area in August. Total sales increased 71.4% year-over-year. The median sales price in August was $217,400, a decrease of 20.9% from July and a decrease of 22.3% 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.
