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Huntsville Real Estate Market Trends-Feb 2008

By: Huntsville Real Estate Expert Mike Manosky On February 22, 2008
Huntsville Predictor is a website offering a great run-down of the real estate market across Alabama.
  • The real estate market in Alabama as a state is not expected to slow as much in 2008 as in the rest of the country.
  • 4% increase in appreciation is predicted for Huntsville homes (the second-highest prediction in the state!)
  • Increasing jobs and industrial construction are predicted to help Huntsville continue to grow.
  • Northern Alabama is predicted to experience less market slowdown than the rest of the  state.
Let’s take a look at the sales statistics for Huntsville in January 2008 to see how the year started off:

Huntsville/Madison County Market Statistics
 

The Huntsville and Madison County markets experienced a considerable slowdown in activity this January, when compared with January 2007. Sales were down when compared with 2007, but by 26%.  Average sale prices, however, increased by 9% with the average home selling for $193,104.

Date
Sold
Listings
Average
List Price
Average
Sale Price
Percent
SP/LP
Average
DOM
Average
Price
SqFt
Jan 2008
327
$197,682
$193,104
97.68%
111
$90
Jan 2007
439
$187,259
$184,246
98.39%
84
$84


If you are planning to buy or sell a home in 2008, or if you want to learn more about Huntsville AL real estate, please contact me at 256-508-0211or visit MoveToHuntsville.com. 
 

To begin searching for Huntsville AL homes, please use my complimentary MLS search. Best wishes for a very happy and prosperous new year!

 

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

Average market times increased, with the average home on the market for 111 days vs 84 days in January 2007.  The average price per square foot of home went up 6% to $90.

 

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