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

Sales: Calhoun County residential sales totaled 153 units during April, up 18.6 percent from the prior year. Two more resources to review: Quarterly Report and Annual Report.

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

Forecast: April sales were two units or 1.3 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. The 2018 sales forecast through April projected 506 closed transactions, while the actual sales were 487 units.

Supply: Calhoun County area housing inventory totaled 715 units, a decrease of 19.1 percent from April 2017. Inventory decreased 1 percent from the prior month. This direction contrasts with historical data that shows April inventory on average (2013-17) increases from March by 3.5 percent. The inventory-to-sales ratio during April decreased from 6.9 months of supply during April 2017 to 4.7 months of housing supply during 2018. At the April sales pace, it would take 4.7 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during April is considered to be approximately 6 months.

Demand: April residential sales increased 15 percent from March. Historical data from Calhoun County indicate that April sales on average (2013-17) increase from March by 8.2 percent. The average days on market until a listing sold was 81 days, down 18.2 percent from the previous April.

Pricing: The Calhoun County median sales price in April was $131,900, which is 14.8 percent higher than the previous April. 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: Statewide, residential real estate sales continued to show growth during the first quarter of 2018 as they grew 2.4 percent from the first quarter of 2017. Low inventory levels, however, played a large role in driving prices upward. During the first quarter of the year, the statewide median sales price increased 7.1 percent from one year ago. Although good news for sellers, this price growth, combined with rising interest rates, could lead to affordability issues for buyers in today’s markets.

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