According to the Calhoun County Board of Realtors, June residential sales in the area (Calhoun, Cleburne, and Talladega Counties) decreased 16.5% year-over-year (Y/Y) from 188 to 157 closed transactions. Sales increased 14.6% from June and are now down 7.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Calhoun County’s housing data, click here.
Inventory: July listings (613) decreased 0.2% from June and increased 29.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.9 months, down from 4.5 months in June and up from 2.6 in July 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 July was $220,000 an increase of 15.2% from one year ago and up 10.1% from June. 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 July averaged 47 days on the market (DOM), 16 days slower than July 2023.
Forecast: July sales were 13 units, or 7.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 170 sales for the month, while actual sales were 157 units. ACRE forecast a total of 1169 residential sales in the area year-to-date, while there were 982 actual sales through July, a difference of 16.0%.
New Construction: The 6 new homes sold represent 4.0% of all residential sales in the area in July. Total sales decreased 68.4% year-over-year. The median sales price in July was $274,935, an increase of 25.0% from June and an increase of 5.8% 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.
