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Huntsville Housing Market Expected To Rise In 2007

By: Huntsville Real Estate Expert Mike Manosky On January 20, 2007

“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.  

 

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