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

Sales: Calhoun County residential sales totaled 131 units during July, an increase in sales of 13.8 percent from the same period a year earlier. Year-to-date sales in Calhoun County are 21 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. 

Year-to-date home sales through July in Calhoun County are up 21 percent over the same period during 2015.

Forecast: July sales of 131 homes were right on target with the Alabama Center for Real Estate’s (ACRE) monthly forecast. The year-to-date sales forecast through July projected 830 closed transactions, while the actual sales were 898 units, a favorable difference of 8.1 percent.

Supply: Calhoun County area housing inventory totaled 1,045 units, a decrease of 21 percent from July 2015. Inventory decreased 3.2 percent from the prior month. This direction is consistent with historical data that shows July inventory on average (2011-15) decreases from June by 0.2 percent.

The inventory-to-sales ratio during July decreased favorably from 8.7 months of supply during July 2015 to 8 months of housing supply during 2016. Restated, at the July sales pace, it would take eight months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during July is considered to be approximately 6 months, so continued improvement in this area would be welcome news.

Demand: July residential sales decreased 12.7 percent from June. This direction contrasts with historical data from Calhoun County indicating that July sales on average (2011-15) increase from June by 7.3 percent. The average days on market until a listing sold was 114 days, 25 percent slower than last July.

Pricing: The Calhoun County median sales price in July was $129,000, which is 8.5 percent higher than last July. Pricing can fluctuate from month to month as the sample size of data (closed transactions) is subject to seasonal buying patterns. ACRE recommends consulting with a local real estate professional to discuss prices, as they will vary from neighborhood to neighborhood.

Industry perspective: “Financial volatility resulting from Brexit has created some uncertainty among investors as yields on government bonds have dropped sharply, Treasury yield curves have flattened over the past month, and the Chinese Yuan has depreciated to a six-year low against the dollar,” said Fannie Mae Chief Economist Doug Duncan. “In addition, our view on interest rates continues to be ‘low for long’ as we believe a Fed decision to raise interest rates will likely be on hold until June of 2017. Brexit’s economic impact on the U.S. will likely be limited, especially from a trade perspective, and should be a near-term positive for the housing and mortgage market as falling mortgage rates have prompted new refinance demand.” For the full report, click here.

Click here to generate more graphs from Calhoun County’s July Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply. 

The Calhoun County Residential Monthly Report is developed in conjunction with the Calhoun County Area Board of Realtors to better serve Anniston-area consumers.