ALABAMA REAL ESTATE JOURNAL

Huntsville area home sales increase 7.5% in June 2020

Sales: According to ValleyMLS.com, June home sales in the Huntsville area increased 7.5% year-over-year from 788 to 847 closed transactions. Following seasonal trends but to a greater degree, sales increased 17.8% from May. Sales are up 6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

For all Huntsville-area housing data, click here.

Inventory: Homes listed for sale decreased 24.2% from 1,221 to 926 listings. Months of supply decreased from 1.5 to 1.1, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The median sales price in June was $253,900, an increase of 11.7% from one year ago and an increase of 3.4% from May. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Homes sold in June averaged 26 days on the market (DOM), 13 days faster than June 2019.

Forecast: June sales were 65 units, or 7.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 912 sales for the month, while actual sales were 847 units. ACRE forecast a total of 4,281 residential sales year-to-date, while there were 4,034 actual sales through June, a difference of 5.8%.

Click here to view the entire monthly report.

The Huntsville Area Residential Monthly Report is developed in connection with the Huntsville Area Association of Realtors.

Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period June 1 – 31, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the upcoming impact of COVID-19 on the housing market.

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