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

Sales: Calhoun County residential sales totaled 102 units during February, an increase in sales of 20 percent from the same period a year earlier.  Year-to-date sales in Calhoun County are 21.5 percent ahead of the same period last year. Two more resources to review: Quarterly Report and Annual Report.

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

Forecast: February sales were 6 percent or six units above our monthly forecast. Alabama Center for Real Estate’s (ACRE) year-to-date sales forecast through February projected 180 closed transactions while the actual sales were 198 units, a favorable difference of 10 percent.

There were 102 units sold in Calhoun County during February.

Supply: Calhoun County area housing inventory totaled 1,098 units, a decrease of 5 percent or 58 units below February 2015. Inventory decreased 3 percent from the prior month. This direction contrasts with historical data that shows February inventory on average (2011-15) increases from the month of January by 1.3 percent. The inventory-to-sales ratio during February decreased favorably from 13.6 months of supply during February 2015 to 10.8 during 2016. Restated, at the February sales pace, it would take 10.8 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during the month of February is considered to be approximately 6 months (NSA) so this represents an area where continued improvement would be welcome news.

Demand: February residential sales also increased 6.3 percent from the prior month. This direction is consistent with historical data from Calhoun County indicating that February sales on average (2011-15) increase from the month of January by 0.9 percent. The average Days on Market (DOM) until a listing sold was 178 days, 23.6 percent slower than last February.

Pricing: The Calhoun County median sales price in February was $102,300, which is 21 percent higher than last February. The median sales price also decreased 18 percent from the prior month. This direction contrasts with historical seasonal data (2011-15) indicating that the February median sales price on average increases from the month of January by 4.1 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 February results show the most modest consumer home price expectations since late 2012,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “For consumers who think it’s a bad time to buy a home, whose share has trended up from its recent low last November, high home prices have been an increasingly contributing factor. A slower pace of home price appreciation may provide some relief for potential homebuyers, especially first-time buyers who couldn’t reap the benefits of selling a home at high prices to buy another one.” For the full story, click here.

The average home sold during February in Calhoun County sold for $118,853.

On average, homes sold during February in Calhoun County spent 178 days on the market.

Total supply of homes in Calhoun County during February decreased by 5 percent from last year.

The median sales price for homes sold during February in Calhoun County was $102,300.

There were 10.8 months of supply on the market in Calhoun County during February.

Year-to-date sales during February in Calhoun County were up 21.5 percent over last year.

Home sales in Calhoun County during February were up 20 percent over the same period a year ago.

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.