Calhoun County median home sales price up from one year ago

Calhoun County median home sales price up from one year ago
The Calhoun County median home sales price in January was $139,900, an increase of 19 percent from the same month in 2018. (iStock)

Sales: According to the Calhoun County Area Board of Realtors, Inc., residential sales in the Anniston area totaled 87 units during January, down 19.4 percent from 108 sales in the same month a year earlier. January sales were down 25 percent compared to 116 sales in December and were 6 percent below the five-year January average of 93 sales. Another resource to review is the Annual Report.

For all Calhoun County housing data, click here.

Inventory: Homes listed for sale in Calhoun County during January totaled 662 units, a decrease of 13.4 percent from January 2018’s 764 units, and a decrease of 4.3 percent from December 2018’s 692 units. January months of supply totaled 7.6 months, an increase of 7.6 percent from January 2018’s 7.1 months of supply. January’s months of supply increased 27.6 percent from December’s 6 months of supply.

Pricing: The Calhoun County median sales price in January was $139,900, an increase of 19.1 percent from one year ago and a decrease of 3.5 percent from the prior month. This direction is consistent with historical data (2014-18) indicating that the January median sales price on average decreases from December by 6.5 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 January spent an average of 96 days on the market (DOM), an increase of 3.2 percent from 93 days in January 2018.

Forecast: January sales were 20 units, or 18.7 percent, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 107 sales for the month, while actual sales were 87 units. ACRE forecast a total of 1,784 residential sales in the Calhoun County area during 2019, while there were 1,694 sales in 2018.

ACRE’s statewide perspective: After a strong 2018, statewide residential sales in January increased 1.1 percent year-over-year from 3,320 to 3,358 closed transactions. Home price appreciation in the state continued to climb as the median sales price in January increased 5.5 percent year-over-year from $143,152 to $151,015. Although nationwide inventory levels are trending upward, Alabama’s residential listings decreased 7.4 percent from one year ago. Low inventory levels were a significant factor contributing to rising sales prices throughout 2018. With low inventory levels, it is not surprising to see homes selling more quickly than in previous years. Homes selling in Alabama during January spent an average of 106 days on the market, an improvement of 10 days from 2018.

NAR’s national perspective: During January, total existing-home sales nationwide declined 9 percent from approximately 313,000 closed transactions one year ago to 285,000 currently. Lawrence Yun, chief economist for the National Association of Realtors, said, “Existing home sales in January were weak compared to historical norms; however, they are likely to have reached a cyclical low. Moderating home prices combined with gains in household income will boost housing affordability, bringing more buyers to the market in the coming months.”

 

 

 

 

 

 

 

 

 

 

 

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.

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