Sales: According to the Calhoun County Area Board of Realtors, Inc., residential sales in the Anniston area totaled 125 units during November, equal to sales in the same month a year earlier. November sales were down 8.1% compared to 136 sales in October and were 16.4% above the five-year November average of 107 sales. Year-to-date sales in the area are 3.7% above sales from the same period of 2018. Another resource to review: Annual Report.

For all Calhoun County housing data, click here.

Inventory: Homes listed for sale in Calhoun County during November totaled 674 units, a decrease of 6.1% from November 2018’s 718 units and a decrease of 2.5% from October 2019’s 691 units. November months of supply totaled 5.4 months, a decrease of 6.1% from November 2018’s 5.7 months of supply and an increase of 6.1% from October 2019’s 5.1 months of supply.

Pricing: The Calhoun County median sales price in November was $137,500, an increase of 10.1% from one year ago and a slight increase from the prior month. This direction is inconsistent with historical data (2014-18) indicating that the November median sales price on average decreases from October by 10%. 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 November spent an average of 55 days on the market (DOM), down 12.7% from November 2018 and an increase of 5.8% from 52 days in October.

Forecast: November sales were eight units, or 8.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 137 sales for the month, while actual sales were 125 units. ACRE forecast a total of 1,655 residential sales in the Calhoun County area year-to-date, while there were 1,622 actual sales through November.

ACRE’s statewide perspective: Residential sales growth continued in November but at a slower pace, as total residential sales increased 0.8% year-over-year from 4,598 to 4,635 closed transactions. Year-to-date, sales are up 4.2% from 2018, a record year for residential sales. Home price appreciation in the state continued to climb as the median sales price in November increased 9.3% year-over-year, marking 25 consecutive months of gains. The statewide median sales price is up 5.8% year-to-date. While properties listed for sale nationwide decreased 5.7% year-over-year, Alabama’s residential listings continued to tighten, decreasing 10.5% from one year ago. Low inventory levels were a significant factor contributing to rising sales prices throughout 2018 and continued into the fourth quarter of 2019. With low inventory levels, it is not surprising to see homes selling at a slightly quicker pace than one year ago. Homes selling in Alabama during November spent an average of 92 days on the market, a decrease of one day from November 2018.

NAR’s national perspective: Existing-home sales declined slightly in November, decreasing 0.5% year-over-year from approximately 406,000 closed transactions one year ago to 402,000 currently. The nationwide median existing-home price increased 5.4% in November, marking 93 consecutive months of year-over-year gains. Lawrence Yun, chief economist for the National Association of Realtors, said, “Sales will be choppy when inventory levels are low, but the economy is otherwise performing well, with more than 2 million job gains in the past year.” Properties listed for sale nationwide declined 5.7% in November from approximately 1.74 million listings one year ago to 1.64 million currently.

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.