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Huntsville AL Real Estate Market Trends Report

By: Huntsville Real Estate Expert Mike Manosky On June 16, 2008

A flat pattern in Huntsville AL real estate sales activity could continue for the next couple months before improving over the summer, according to the latest forecast by the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said the extent of an expected recovery hinges on better access to affordable loans. “Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas,” he said. “As anticipated, we continue to look for a soft first half of the year, for both housing and the economy, before notable improvements in the second half. Some time is needed for FHA and new conforming jumbo loans to become widely available.”

Below are the Huntsville AL real estate sales statistics for April 2008 lets see how our local market is faring:


Huntsville/Madison County Market Statistics

Real estate sales in Huntsville and Madison Counties decreased by 18% in April 2008, when compared against April 2007. The average list price was down 2% to $198,265 while the average sale price decreased 3% to $193,236. That brings the list price/sales price ratio to %97.46 – about one percent lower than in 2007. The price per square foot increased $2/sf this April, and homes remained on the market an average of 16 days longer than last year.

Date

Sold
Listings

Average
List Price

Average
Sale Price

Percent
SP/LP

Average
DOM

Average
Price
SqFt

April 2008

413

$198,265

$193,236

97.46%

90

$90

April 2007

502

$201,592

$198,688

98.56%

74

$88


Summer is a great time to move! If you are interested in buying or selling Huntsville AL real estate, please call me at 256-508-0211 or visit MoveToHuntsville.com.

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

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