Huntsville AL Real Estate Market Trends Report
Modest near-term movement is expected in Huntsville AL real estate sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said some pullback after a sharp increase in the previous month was expected. “The overall decline in contract signings suggests we are not out of the woods by any means. The housing stimulus bill that is still being considered in the Senate is critical to assure a healthy recovery in the housing market, jobs and the economy,” he said.
Furthermore, Yun said location has never mattered more than in the current market. “Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half. Price conditions vary tremendously, even within a locality, depending upon a neighborhood’s exposure to subprime loans.”
Let’s take a look at the sales statistics for June 2008 to see how the Huntsville AL real estate market looks:
Huntsville/Madison County Market Statistics
Huntsville and Madison County saw a 22% decline in home sales this June, when compared against June 2007. The average list and sales prices, however, changed less than 1% over last year. Likewise, the sales price to list price ratio and average price per square foot remained almost the same. Homes remained on the market an average of 25 days longer than last year.
|
Date |
Sold
Listings |
Average
List Price |
Average
Sale Price |
Percent
SP/LP |
Average
DOM |
Average
Price SqFt |
|
June 2008 |
514 |
$210,207 |
$205,835 |
97.92% |
93 |
$92 |
|
June 2007 |
657 |
$210,472 |
$207,319 |
98.50% |
68 |
$91 |
Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.
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