Sales: According to the Calhoun County Area Board of Realtors, Inc., residential sales in the Anniston area totaled 150 units during December, up 29.3% from 116 sales in the same month a year earlier. December sales were up 20% compared to 125 sales in November and were 34.4% above the five-year December average of 112 sales. Sales in the area for 2019 were 5.5% above 2018 sales. Another resource to review: Annual Report.
For all Calhoun County housing data, click here.
Inventory: Homes listed for sale in Calhoun County during December totaled 584 units, a decrease of 15.6% from December 2018’s 692 units and a decrease of 13.4% from November 2019’s 674 units. December months of supply totaled 3.9 months, a decrease of 34.7% from December 2018’s 6 months of supply and a decrease of 27.8% from November 2019’s 5.4 months of supply.
Pricing: The Calhoun County median sales price in December was $125,000, a decrease of 13.8% from one year ago and a decrease of 9.1% from the prior month. This direction is inconsistent with historical data (2014-18) indicating that the December median sales price on average increases from November by 12.5%. 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 December spent an average of 65 days on the market (DOM), down 27.8% from December 2018 and 18.2% from 55 days in November.
Forecast: December sales were 31 units, or 16.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 129 sales for the month, while actual sales were 150 units. ACRE forecast a total of 1,784 residential sales in the Calhoun County area during 2019, while there were 1,772 actual sales through December.
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.
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The Calhoun County Residential Monthly Report is developed in conjunction with the Calhoun County Area Board of Realtors to better serve Anniston-area consumers.