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Huntsville Real Estate Sales Statistics – June 2010

By: Huntsville Real Estate Expert Mike Manosky On July 26, 2010

Congress recently extended the home buyer tax credit closing date to September 30. The measure would give more time to thousands of qualified home purchasers, who through no fault of their own are unable to meet the current closing deadline of June 30; however the measure would not extend the deadline for home buyers to qualify for the tax credit. The deadline extension applies only to homebuyers who have ratified contracts in place as of April 30, 2010, but could not close before June 30.

The April 30 deadline created a surge of home sales in April. Let’s take a look at the Huntsville real estate sales statistics in June compared to May.

Madison County/Huntsville Real Estate Sales Statistics

Huntsville and Madison County saw an increase of 10% in sold listings when compared to May 2010.  The average sales price increased by 11% to $220,296.  The average price per square foot remained the same in June 2010 when compared to May 2010.  And the average list price increased by 11%, while homes were on the market an average of 8 days less than May 2010.

Date Sold Listings Average List Price Average Sale Price Percent SP/LP Average DOM Average Price Sqft
June 2010 525 $225,333 $220,296 98.87% 65 $85
May 2010 473 $200,826 $196,099 97.92% 73 $85

The increase in sales is a positive. However, much of the increase is a result of the expiring home buyer tax credits as well as seasonal activity. In addition to the increased sales, there has been an increase in the amount of inventory on the market compared to the same time last year. On average, we currently have between a 9-12 months supply of homes currently on the market in all price ranges.

For more information about Huntsville AL real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.

To begin searching Huntsville AL homes, please use my complimentary MLS search.

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

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