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Mike@MoveToHuntsville.com

Huntsville Real Estate Market Trends

By: Huntsville Real Estate Expert Mike Manosky On April 26, 2007
Huntsville/Madison County Market Statistics

“As home sales moderate, overall home prices will be essentially flat this year,” says David Lereah, chief economist for the National Association of Realtors. Tighter lending standards are expected to slow sales, but the good news is, inventory remains well below the levels seen in the real estate downturn of the early 1990’s. 

The Huntsville and Madison County real estate markets continue to see price increases, even though sales moderated slightly.

The average sales price increased in March 2007 by approximately $4,094 or 2 percent from March 2006 to $184,317. The price per square foot, also, increased by 6 percent to $86 per square foot.

The number of homes sold declined slightly during this time period by 1 percent or 5 homes, as market times increased by 12 percent or 10 days. The SP/LP ratio remained relatively unchanged compared to March 2006 with homes selling for 98.49 percent of their list price.

Date

Sold
Listings

Average
List Price

Average
Sale Price

Percent
SP/LP

Average
DOM

Average
Price
SqFt

Mar 2007

547

$187,145

$184,317

98.49%

95

$84

Mar 2006

552

$182,495

$10,223

98.69%

85

$81

Spring is a great time to buy or sell Huntsville real estate! It is the busiest time of the year, giving buyers the most homes to choose from and sellers are enjoying increasing prices. Give me a call at 256-508-0211. I am here to help.

You can get a daily email list of new homes for sale as they hit the market by visiting HuntsvilleHomeHunter.com. It is fast, easy and FREE! 

Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.  

 

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