Click here to view or print the entire September report compliments of the ACRE Corporate Cabinet.

Sales: Calhoun County residential sales totaled 136 units in September, an increase in sales growth of 27 percent from the same period a year earlier. Calhoun County continues to trend upward during the month of September, rising steadily from just over 70 units in September 2012 to nearly 140 last month. Year-to-date, September sales are 14 percent higher than September 2014. Two more resources to review market: Quarterly Report and Annual Report

Forecast: September sales were 33 percent or 34 units above our monthly forecast. Alabama Center for Real Estate’s (ACRE) year-to-date sales forecast through September projected 958 closed transactions while the actual sales were 1,049 units, a rise of 9.5 percent.

Sales continue to climb in September in Calhoun County, rising 27 percent last month over the same period last year. The 136 units sold was the most since September 2005 (146).

Supply: Calhoun County area housing inventory totaled 1,222 units, an increase of 0.7 percent or 8 units above September 2014. Inventory did drop 1.9 percent from the prior month. This direction is consistent with historical data indicating that September inventory on average (2010-14) decreases from the month of August by 4.1 percent. The inventory-to-sales ratio in September decreased (favorable direction) 20.8 percent from the prior year to 9.0 months of inventory. Restated, at the September sales pace, it would take 9.0 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during the month of September is considered to be approximately 6.0 months (NSA) so this represents an area where continued improvement would be welcome news.

Demand: September residential sales also dipped 2.2 percent from the prior month. This direction is consistent with historical data from Calhoun County indicating that September sales on average (2010-14) increase from the month of August by 19.2 percent. The average Days on Market (DOM) until a listing sold was 114 days, a 3.6 percent increase from last September .

Pricing: The Calhoun County median sales price in September was $99,900, which is virtually 5 percent lower than last September . The median sales price also slipped 16 percent from the prior month. This direction contrast with historical seasonal data (2010-14) indicating that the September median sales price on average increases from the month of August by 2.2 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as it pertains to pricing trends is appropriate. We highly recommend consulting with a local real estate professional to discuss prices as it can and will vary from neighborhood to neighborhood.

Industry Perspective: “Our forecast for the year is largely unchanged despite recent market volatility. Fundamentals are positive, suggesting potential for some improvement in the fourth quarter,” said Fannie Mae Chief Economist Doug Duncan. “While core personal consumption expenditures experienced their weakest gain in more than four years in July, real consumer spending rebounded during the month and August auto sales were stronger than they have been in a decade. Consumers may get an added boost during the year from subdued inflation given the stronger dollar and low oil prices. Overall, we anticipate economic growth of 2.4 percent for 2015, up slightly from 2.1 percent in the prior forecast. Consumer and government spending as well as nonresidential and residential investment are expected to contribute to growth while net exports and inventory investment will likely pose headwinds.” For full report click HERE.

The average sales price in Calhoun County was nearly unchanged from last September but down 10.6 percent from August.

Average days on the market rose slightly from last September but nowhere near the peak of nearly 175 days in 2011.

Total inventory listed was flat in September compared to the previous five years at 1,222. It’s been almost unchanged from the 1,240 units listed in 2011.

Median sales prices are down overall in September in Calhoun County. Prices had hit $150,000 in 2011 but were down to $99,900 last month.

Months of supply dropped favorable to 9.0 in September, but it has a ways to go before reaching equilibrium.

Sales were down 2.2 percent from August last month in Calhoun County.

Sales in Calhoun County nearly reached 2005 levels in September, shy by just 10 units.

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Bryan Davis is the research/media coordinator for the Alabama Center for Real Estate housed within the Culverhouse College of Commerce at the University of Alabama. He can be reached at 205-348-5416 or at bkdavis@culverhouse.ua.edu.

The Calhoun County Residential Monthly Report is work product developed in conjunction with the Calhoun County Area Board of Realtors to better serve Anniston area consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current available data. Real estate is local and statistics will fluctuate between areas within a city including subdivisions. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market. The Alabama Center for Real Estate‘s core purpose is to advance the real estate industry in Alabama by providing relevant resources in the areas of research, education and outreach.