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

Sales: Calhoun County residential sales totaled 142 units during August, an increase in sales of 2.2 percent from the same period a year earlier. Year-to-date sales in Calhoun County are 18 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. 

Home sales for August in Calhoun County rose 2.2 percent from the same period last year.

Forecast: August sales of 142 homes were seven units or 4 percent below the Alabama Center for Real Estate’s (ACRE) monthly forecast. The year-to-date sales forecast through August projected 979 closed transactions, while the actual sales were 1,040 units, a favorable difference of 6 percent.

Supply: Calhoun County area housing inventory totaled 1,027 units, a decrease of 17 percent from August 2015. Inventory decreased 1.7 percent from the prior month. This direction contrasts with historical data that shows August inventory on average (2011-15) increases from July by 0.1 percent.

The inventory-to-sales ratio during August decreased favorably from 9 months of supply during August 2015 to 7.2 months of housing supply during 2016. Restated, at the August sales pace, it would take 7.2 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during August is considered to be approximately 6 months, so continued improvement in this area would be welcome news.

Demand: August residential sales increased 8.4 percent from July. This direction is consistent with historical data from Calhoun County indicating that August sales on average (2011-15) increase from July by 16.3 percent. The average days on market until a listing sold was 118 days, 14.6 percent slower than last August.

Pricing: The Calhoun County median sales price in August was $129,450, which is 9 percent higher than last August. 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: “Consumers have a fairly optimistic 12-month outlook on housing at the end of the summer home-buying season, supported by increased job confidence and more favorable expectations regarding their personal financial situations compared with this time last year,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The return to a slight upward trend in the HPSI (Home Purchase Sentiment Index) during the spring and summer is, thus far, in line with our forecast, which calls for 4 percent growth in home sales in 2016 to the best level since 2006 and continued improvement for 2017.” For the full report, click here.

Click here to generate more graphs from Calhoun County’s August 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.