Sales: Calhoun County residential sales totaled 159 units during June, down 4.8 percent from 167 sales in the same month a year earlier. June sales were down 18.5 percent compared to 195 sales in May. However, results were 22.5 percent above the five-year June average of 130 sales. Two more resources to review: Quarterly Report and  Annual Report.

For all Calhoun County housing data, click here.

Inventory: Homes listed for sale in Calhoun County during June totaled 727 units, a decrease of 18.1 percent from June 2017’s 888 units, and a decrease of .1 percent from May 2018’s 728 units. Calhoun County also experienced a year-over-year decline in months of supply in June. June months of supply totaled 4.6 months, a decrease of 14 percent from June 2017’s 5.3 months of supply. June’s months of supply increased from May’s 3.7 months of supply.

Pricing: The Calhoun County median sales price in June was $124,900, an increase of 2 percent from one year ago and a decrease of 7.5 percent from the prior month. This direction is inconsistent with historical data (2013-17) indicating that the June median sales price on average increases from May by 15.4 percent. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE highly recommends consulting with a local real estate professional to discuss pricing trends, as they will vary from neighborhood to neighborhood. The homes selling in June spent an average of 84 days on the market (DOM), a decrease of 24.3 percent from 111 days in June 2017. However, DOM increased 2.4 percent from 82 days in May.

Forecast: June sales were two units, or 1.2 percent, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 161 sales for the month, while actual sales were 159 units. ACRE forecast a total of 823 residential sales in the Calhoun County area year-to-date, while there were 841 actual sales through June.

ACRE’s statewide perspective: Coming into summer, the spring home-buying season had been significantly affected by very low inventory levels. May residential listings decreased more than 7 percent in the state and decreased 6.1 percent nationwide from one year ago. Residential sales in Alabama, however, increased 8 percent from one year ago, which is impressive considering the 7.3 percent drop in inventory. Home price appreciation heated up with the temperatures as the statewide median sales price increased 10.7 percent from one year ago, while also increasing 7 percent during the first quarter of the year. Home sales prices are expected to continue their upward climb throughout the summer as inventory levels are likely to repeat the declines that were seen during the spring.

NAR’s national perspective: Lawrence Yun, National Association of Realtors chief economist, says a solid economy and job market should be generating a much stronger sales pace than what has been seen so far this year. “Closings were down in a majority of the country last month and declined on an annual basis in each major region,” he said. “Incredibly low supply continues to be the primary impediment to more sales, but there’s no question the combination of higher prices and mortgage rates are pinching the budgets of prospective buyers, and ultimately keeping some from reaching the market.”

Click here to view the entire monthly report.

The Calhoun County Residential Monthly Report is developed in conjunction with the Calhoun County Area Board of Realtors to better serve Anniston-area consumers.