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

Sales: Calhoun County residential sales totaled 154 units during March, up 39 percent 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 in Calhoun County increased from 111 during March 2016 to 154 in 2017.

Forecast: March sales were 29 units or 23 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. The 2017 sales forecast through March projected 310 closed transactions, while the actual sales were 358 units.

Supply: Calhoun County area housing inventory totaled 903 units, a decrease of 17 percent from March 2016. Inventory decreased 5 percent from the prior month. This direction contrasts with historical data that shows March inventory on average (2012-16) increases from February by 1.4 percent. The inventory-to-sales ratio during March decreased from 9.8 months of supply during March 2016 to 5.9 months of housing supply during 2017. Restated, at the March sales pace, it would take 5.9 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during March is considered to be approximately 6 months.

Demand: March residential sales rose 51 percent from February. Historical data from Calhoun County indicate that March sales on average (2012-16) increase from February by 35.5 percent. The average days on market until a listing sold was 117 days, down 21 percent from the previous March.

Pricing: The Calhoun County median sales price in March was $114,900, which is 6.4 percent higher than the previous March. 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: “Our economic forecast remains in a conservative holding pattern as we await word on the particulars of the new Administration’s plans for fiscal stimulus,” said Fannie Mae Chief Economist Doug Duncan. “In the meantime, economic sentiment from most industry stakeholders continues to reach new heights: consumers, as demonstrated by our National Housing Survey, are more positive than at any time since the survey’s inception in 2010 about the direction of the economy, while homebuilders’ optimism remains near an 11-year high. Tight inventory remains a boon to home prices and Americans’ net worth, but it also continues to price out many would-be first-time homebuyers. However, our research suggests that aging millennials, now boasting higher real wages, are beginning to narrow the homeownership attainment gap.”

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