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Huntsville Real Estate Sales Statistics – October 2010

By: Huntsville Real Estate Expert Mike Manosky On November 29, 2010

Nearly eight out of 10 Americans believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That’s according to the 2010 National Housing Pulse Survey, an annual report released by the National Association of Realtors®.

The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to home ownership.

Despite economic uncertainty, 68 percent of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75 percent), it’s up from 2008 (66 percent) and 2007 (59 percent). Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market – more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40 percent said it was one of their highest priorities.

Lower home prices have improved affordability. Let’s take a look at October home sales and see how improved affordability is affecting our local housing market.

Madison County/Huntsville Real Estate Sales Statistics

Huntsville and Madison County saw an decrease of 2% in sold listings in October when compared to September 2010.  The average sales price decreased by 6% to $193,701.  The average price per square foot increased by 1% in October 2010 when compared to September 2010.  And the average list price decreased by 6%, while homes were on the market an average of 4 days more than in October 2010.

Date Sold Listings Average List Price Average Sale Price Percent SP/LP Average DOM Average Price Sqft
Oct 2010 329 $198,898 $193,701 97.74% 76 $82
Sept 2010 336 $211,890 $206,828 98.56% 72 $81

On average, we 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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