According to the Calhoun County Board of Realtors, October residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 7.9% year-over-year (Y/Y) from 126 to 136 closed transactions. Sales decreased 14.5% from September and are now down 2.9% 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 (614) decreased 3.9% from September and increased 21.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.5 months, up from 4.0 months in September and up from 3.1 in October 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 October was $194,950, a decrease of 6.7% from one year ago and an increase of 2.1% 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 49 days on the market (DOM), 8 days slower than October 2023.
Forecast: October sales were 24 units, or 21.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 112 sales for the month, while actual sales were 136 units. ACRE forecast a total of 1,565 residential sales in the area year-to-date, while there were 1,448 actual sales through October, a difference of 7.5%.
New Construction: The 4 new homes sold represent 2.9% of all residential sales in the area in October. Total sales increased 33.3% year-over-year. The median sales price in October was $217,400, a decrease of 5.5% from September and a decrease of 0.7% 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.
