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

Sales: Calhoun County residential sales totaled 137 units during December, an increase in sales of 67 percent from the same period a year earlier and a new sales peak for the month. Sales in Calhoun County have not eclipsed the 100 mark during December since 103 units were sold during 2005. Year-to-date, December sales were 14 percent higher than December 2014. Two more resources to review: Quarterly Report and Annual Report.

For all of Calhoun County’s area real estate data, click here. 

Calhoun County sales rose from 82 units in December 2014 to 137 during December 2015.

Forecast: December sales were 59 percent or 51 units above our monthly forecast. Alabama Center for Real Estate’s (ACRE) year-to-date sales forecast through December projected 1,240 closed transactions while the actual sales were 1,383  units, a rise of 11.5 percent.

Supply: Calhoun County area housing inventory totaled 1,077 units, a decrease of 5 percent or 55 units below December 2014. Inventory also dropped 9 percent from the prior month. This direction is consistent with historical data that shows December inventory on average (2010-14) decreases from the month of November by 6 percent. The inventory-to-sales ratio during December decreased favorably from 13.8 months of supply during December 2014 to 7.9 during 2015. Restated, at the December sales pace, it would take 7.9 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during the month of December is considered to be approximately 6.0 months (NSA) so this represents an area where continued improvement would be welcome news.

Demand: December residential sales also increased 41 percent from the prior month. This direction contrasts with historical data from Calhoun County indicating that December sales on average (2010-14) decrease from the month of November by 4 percent. The average Days on Market (DOM) until a listing sold was 128 days, a 5 percent decrease from last December.

Pricing: The Calhoun County median sales price in December was $119,900, which is 19 percent higher than last December. The median sales price also increased 20 percent from the prior month. This direction is consistent with historical seasonal data (2010-14) indicating that the December median sales price on average increases from the month of November by 7.3 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: “Consumers ended the year on an improved note with regard to their income, job security, and overall economic outlook. This more positive consumer sentiment brought the HPSI up a few points, moving the index up for all of 2015,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Brightening economic prospects, if sustained, should stimulate demand for homeownership. However, continuing upward pressure on rental prices and constrained housing supply, particularly for starter homes, may mean prospective first-time homebuyers could face affordability constraints.” For full report click here.

The average price for homes sold during December in Calhoun County was $132,904.

Homes sold during December in Calhoun County spent an average of 128 days on the market.

Inventory in Calhoun County during December continues to decline.

The median sales price in Calhoun County during December rose to $119,900.

Months of supply continues to fall in a favorable direction during December in Calhoun County.

Year-to-date sales during December in Calhoun County rose 14 percent over 2014.

Total sales in Calhoun County during December were more than double the all-time low of 60.

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.