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 December, a decrease in sales of 25.5 percent from the same period a year earlier. Total 2016 sales in Calhoun County were 9.2 percent ahead of the same period in 2015. Two more resources to review: Quarterly Report and Annual Report.

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

Calhoun County home sales were down in December compared with December 2015, but for the year they increased 9 percent.

Forecast: December sales of 102 homes were one unit or 1 percent below the Alabama Center for Real Estate’s (ACRE) monthly forecast. The 2016 sales forecast through December projected 1,426 closed transactions, while the actual sales were 1,510 units, a favorable difference of 6 percent.

Supply: Calhoun County area housing inventory totaled 949 units, a decrease of 12 percent from December 2015. Inventory decreased 4 percent from the prior month. This direction is consistent with historical data that shows December inventory on average (2011-15) decreases from November by 5.7 percent.

The inventory-to-sales ratio during December increased from 7.9 months of supply during December 2015 to 9.3 months of housing supply during 2016. Restated, at the December sales pace, it would take 9.3 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during December is considered to be approximately 6 months, so continued improvement in this area would be welcome news.

Demand: December residential sales decreased 13.6 percent from November. This direction contrasts with historical data from Calhoun County indicating that December sales on average (2011-15) increase from November by 6.5 percent. The average days on market until a listing sold was 134 days, up 4.7 percent from the previous December.

Pricing: The Calhoun County median sales price in December was $127,000, which is 6 percent higher than the previous December. 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 tenor of our forecast effectively remains unchanged: signs of cautious consumers this quarter, rising interest rates, the renewed increase in the U.S. dollar to a 14-year high, and heightened uncertainty in the political sphere suggest conservatism in our outlook,” said Fannie Mae Chief Economist Doug Duncan. “While we are encouraged that confidence is rising across investors, consumers, businesses, economists and homebuilders, much of it appears to be in anticipation that the forthcoming Administration and the new Congress will enact fiscal policies and deregulation that will help spur growth. While we believe that some pro-growth policies could be adopted next year, it would take time for them to benefit the economy, barring any offsetting initiatives such as more restrictive trade policies.”

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