According to the Calhoun County Board of Realtors, November residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 0.8% year-over-year (Y/Y) from 131 to 132 closed transactions. Sales decreased 2.9% from October and are now down 2.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: November listings (586) decreased 4.6% from October and increased 1.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.4 months, down from 4.5 months in October and constant with the 4.4 months in November 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 November was $203,939, an increase of 7.4% from one year ago and an increase of 4.6% from October. 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 November averaged 51 days on the market (DOM), 9 days slower than November 2023.
Forecast: November sales were 19 units, or 16.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 113 sales for the month, while actual sales were 132 units. ACRE forecast a total of 1,679 residential sales in the area year-to-date, while there were 1,580 actual sales through November, a difference of 5.9%.
New Construction: The 9 new homes sold represent 6.8% of all residential sales in the area in November. Total sales decreased 25.0% year-over-year. The median sales price in November was $240,000, an increase of 10.4% from October and an increase of 7.5% 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.