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

Sales: Calhoun County residential sales totaled 119 units during October, an increase in sales of 19 percent from the same period a year earlier. Year-to-date sales in Calhoun County are 12.3 percent ahead of the same period last year. Two more resources to review: Quarterly Report and Annual Report.

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

Home sales in Calhoun County during October rose 19 percent from 2015.

Forecast: October sales of 119 homes were six units or 5 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. The year-to-date sales forecast through October projected 1,212 closed transactions, while the actual sales were 1,290 units, a favorable difference of 6 percent.

Supply: Calhoun County area housing inventory totaled 1,006 units, a decrease of 16 percent from October 2015. Inventory decreased 3.4 percent from the prior month. This direction is consistent with historical data that shows October inventory on average (2011-15) decreases from September by 5.3 percent.

The inventory-to-sales ratio during October decreased favorably from 12 months of supply during October 2015 to 8.5 months of housing supply during 2016. Restated, at the October sales pace, it would take 8.5 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) during October is considered to be approximately 6 months, so continued improvement in this area would be welcome news.

Demand: October residential sales decreased 9.2 percent from September. This direction is consistent with historical data from Calhoun County indicating that October sales on average (2011-15) decrease from September by 2.5 percent. The average days on market until a listing sold was 121 days, down 11.7 percent from last October.

Pricing: The Calhoun County median sales price in October was $129,900, which is 6 percent higher than last October. 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: “Since July, more consumers, on net, have steadily expected mortgage rates to rise and home price appreciation to moderate,” said Doug Duncan of Fannie Mae. “Furthermore, consumers’ perception of their income over the past year deteriorated sharply in October to the worst showing since early 2013, weighing on the index. However, this component of the HPSI (home purchase sentiment index) is volatile from month to month, and the firming trend in wage gains from the October jobs report, if sustained, may foreshadow an improving view in the near future.”

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