According to the Calhoun County Board of Realtors, March residential sales in the area (Calhoun, Cleburne, and Talladega Counties) increased 1.5% year-over-year (Y/Y) from 138 to 140 closed transactions. Sales increased 13.8% from February and are now up 3.8% 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 (617) increased 1.5% from February and increased 15.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.4 months, down 4.9 months in February and up from 3.9 months in March 2024. 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 $199,900, an increase of 6.4% from one year ago and an increase of 4.1% 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 65 days on the market (DOM), 5 days slower than March 2024.
Forecast: March sales were 7 units, or 4.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE forecasted a total of 377 home sales year-to-date, while there were 382 actual sales through March, a difference of 1.3%
New Construction: The 7 new homes sold represent 5.0% of all residential sales in the area in March. Total sales decreased 12.5% year-over-year. The median sales price in March was $239,900, an increase of 16.0% from February and an increase of 19.1% 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.
