“After bottoming in the fourth quarter of 2006, existing-home sales are expected to rise through 2007 and into 2008, while new home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors.” Our local Huntsville real estate market doesn’t fall in line with this prediction, however, as both sales and prices increased in 2006.
The average sales price increased in December 2006 by approximately $13,538 or 9 percent from December 2005 to $164,800. The number of homes sold increased during this time period by 9 percent or 80 homes and the active listings increased by 20 percent. Market times dropped by 4 percent.
|
Date
|
Active
Listings
|
Sold
Listings
|
Median
Sales Price
|
Average
Sales Price
|
Average
DOM
|
|
Dec 2006
|
4,862
|
966
|
$131,900
|
$164,800
|
99
|
|
Dec 2005
|
4,064
|
886
|
$132,500
|
$151,262
|
103
|
Year end figures for Huntsivlle real estate are excellent, especially when compared to other parts of the country experiencing declines in sales and prices. The number of homes sold in 2006 increased 14 percent compared to 2005, while market times remained stready.
The average sales price increased last year from $147,592 in 2005 to $158,326 in 2006, representing a 7 percent increase.
|
Date
|
Sold
Listings
|
Median
Sales Price
|
Average
Sales Price
|
Average
DOM
|
|
2006
|
12,100
|
$134,842
|
$158,326
|
106
|
|
2005
|
10,624
|
$124,483
|
$147,592
|
106
|
Interesting in knowing what prices are doing in your neighborhood? Visit HuntsvilleHouseValue.com. Your market valuation will be emailed to you.
Statistics are based on information for the Huntsville Chamber of Commerce and are deemed reliable but not guaranteed.
