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 September, a decrease in sales of 3.7 percent from the same period a year earlier. Year-to-date sales in Calhoun County are 16 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. 

Calhoun County September home sales dipped by 3.7 percent from last year.

Forecast: September sales of 131 homes were 11 units or 9 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. The year-to-date sales forecast through September projected 1,099 closed transactions, while the actual sales were 1,171 units, a favorable difference of 6.5 percent.

Supply: Calhoun County area housing inventory totaled 1,041 units, a decrease of 15 percent from September 2015. Inventory increased 1.4 percent from the prior month. This direction is consistent with historical data that shows September inventory on average (2011-15) increases from August by 2.5 percent.

The inventory-to-sales ratio during September decreased favorably from 9 months of supply during September 2015 to 7.9 months of housing supply during 2016. Restated, at the September sales pace, it would take 7.9 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during September is considered to be approximately 6 months, so continued improvement in this area would be welcome news.

Demand: September residential sales decreased 7.7 percent from August. This direction is consistent with historical data from Calhoun County indicating that September sales on average (2011-15) decrease from August by 11.5 percent. The average days on market until a listing sold was 114 days, unchanged from last September.

Pricing: The Calhoun County median sales price in September was $119,000, which is 19 percent higher than last September. 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: “The decline in the HPSI (Home Purchase Sentiment Index) over the past two months from the survey-high in July of 86.5 adds a note of caution to our moderately positive housing outlook,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Downside changes came in particular from the HPSI components ‘mortgage rate direction’ and ‘good time to buy a house.’ In addition, the starter home tight supply and rising home prices as well as the unsettled political environment are likely giving many consumers a reason to pause or question their home purchase sentiment.” For the full report, click here.

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