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Huntsville Real Estate Sales Statistics – August 2008

By: Huntsville Real Estate Expert Mike Manosky On September 25, 2008

Huntsville Real Estate Market Report

The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors®.

The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an upwardly revised reading of 89.4 in June, which had risen 5.8 percent from May. The July index remains 6.8 percent below July 2007 when it stood at 92.8.

Lawrence Yun, NAR chief economist, said home sales continue to edge up and down. “Pending home sales are oscillating month-to-month, with the long-term trend essentially flat,” he said. “Overly stringent lending criteria imposed by Fannie Mae and Freddie Mac in the past month no doubt held back contract signings.” 

Let’s take a look at the Huntsville sales statistics for August 2008 to see how the Huntsville AL real estate market looks: 

Huntsville/Madison County Market Statistics 

Huntsville and Madison County real estate saw a 3% increase in average sales price over August 2007.  There was a  32% decline in home sales this August, when compared against August 2007.  The average list price has seen an increase of 5% over last year.  Likewise, the sales price to list price ratio remained constatant.  The average price per square foot saw a 1% decrease.  Homes remained on the market an average of 7 days longer than last year. 

Date

Sold
Listings

Average
List Price

Average
Sale Price

Percent
SP/LP

Average
DOM

Average
Price
SqFt

August 2008

433

$210,272

$204,818

97.41%

81

$89

August 2007

633

$200,428

$197,996

98.79%

74

$90

There are lots of good things happening in Huntsville and Madison County. I encourage you to take advantage the opportunities.  

For the latest Huntsville AL real estate market conditions in your area, 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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