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Huntsville Real Estate Sales Statistics – September 2008

By: Huntsville Real Estate Expert Mike Manosky On October 24, 2008

Existing-home sales increased last month as buyers responded to improved housing affordability conditions, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 5.5 percent to a seasonally adjusted annual rate¹ of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace in September 2007.

Lawrence Yun, NAR chief economist, said more markets are seeing year-over-year gains. “The sales turnaround which began in California several months ago is broadening now to Colorado, Kansas, Minnesota, Missouri and Rhode Island,” he said. “The South was hampered by much lower home sales in Houston in the aftermath of Hurricane Ike.”

Let’s take a look at the sales statistics for September 2008 to see how the Huntsville AL real estate market looks: 
  
Huntsville/Madison County Real Estate Sales Statistics 

Huntsville and Madison County real estate saw a 2% decrease in average sales price over September 2007.  There was a 10% decline in home sales this September, when compared against September 2007. The average list price has seen an decrease of 2% over last year.  Likewise, the sales price to list price ratio remained constant.  The average price per square foot saw a 1% decrease.  Homes remained on the market an average of 2 days longer than last year.  

Date

Sold
Listings

Average
List Price

Average
Sale Price

Percent
SP/LP

Average
DOM

Average
Price
SqFt

Sept 2008

420

$201,072

$197,461

98.20%

82

$89

Sept 2007

467

$204,808

$200,814

98.05%

80

$90

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

For the latest Huntsville AL real estate market conditions in your area, please call me at 256-508-0211 or visit MoveToHuntsville.com.

Search all Huntsville real estate and homes for sale.

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

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