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Huntsville AL Real Estate Market Trends – May 2012

By: Huntsville Real Estate Expert Mike Manosky On June 29, 2012

Everyone knows that the Huntsville and Madison County real estate market has been rather daunting for the last several years. Ups and downs, reports of good news and bad news, short sales, foreclosures, declining inventory, increase in mortgage applications, buyer frustrations, and seller indecision—all have kept the real estate industry on a roller coaster for too long.  Hope springs eternal, however, and rays of optimism from several fronts may well signal better times ahead.

  • In a recent survey, more than three-quarters of homeowners (78 percent) said that owning a home is one of their greatest achievements, and 85 percent of U.S. adults (which includes both homeowners and renters) agreed that they always dreamed of owning a home.
  • Builder confidence in the market for newly built, single-family homes gained five points in May. This is the index’s strongest reading since May of 2007 and bodes well for Huntsville and Madison County real estate.
  • The median existing single-family home price rose in 74 out of 146 metropolitan statistical areas (MSAs) based on closings in the first quarter from the same quarter in 2011.
  • In Fannie Mae’s Monthly National Housing Survey, the percentage of respondents who say it is a good time to sell increased from 10 percent for the fourth straight month to 15 percent

Lets take a look at May sales figures for Huntsville and Madison County.

Madison County/Huntsville AL Real Estate Sales Statistics

Huntsville AL and Madison County saw an increase of 1% in sold listings in May 2012 when compared to April 2012. The average list price increased by 6% to $195,030 and the average sales price increased by 6% to $188,845.  The average price per square foot increased by 1%, and market times decreased by 4 days.

Date Sold Listings Average List Price Average Sale Price Percent SP/LP Average DOM Average Price Sqft
May 2012 446 $195,030 $188,845 96.58% 93 $80
April 2012 443 $183,429 $178,267 97.23% 97 $79

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

 

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

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