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, unchanged from the year prior. Two more resources to review: Quarterly Report and Annual Report.

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

Home sales remained the same in February in Calhoun County compared to the prior month and year.

Forecast: February sales were 19 units or 17 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. The 2017 sales forecast through February projected 185 closed transactions, while the actual sales were 204 units.

Supply: Calhoun County area housing inventory totaled 949 units, a decrease of 14 percent from February 2016. Inventory increased 2 percent from the prior month. This direction is consistent with historical data that shows February inventory on average (2012-16) increases from January by 21 percent.

The inventory-to-sales ratio during February decreased from 10.8 months of supply during February 2016 to 9.3 months of housing supply during 2016. Restated, at the February sales pace, it would take 9.3 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during February is considered to be approximately 6 months, so continued improvement in this area would be welcome news.

Demand: February residential sales were unchanged from January. Historical data from Calhoun County indicate that February sales on average (2012-16) increase from January by 0.3 percent. The average days on market until a listing sold was 134 days, down 25 percent from the previous February.

Pricing: The Calhoun County median sales price in February was $127,000, which is 24 percent higher than the previous February. 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: “We expect the housing expansion to continue, albeit at a more moderate pace than last year given continued pressure on affordability,” said Fannie Mae Chief Economist Doug Duncan. “Depressed inventory, particularly in the more affordable segments, will likely constrain sales and push home price gains that outpace income growth. A faster pace of monetary tightening, unless accompanied by a stronger increase in household income, also poses downside risk to housing.”

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