Sales: According to ValleyMLS.com, December home sales in the Huntsville area increased 26.9% year-over-year from 683 to 867 closed transactions. Sales increased 18.9% from November and are now up 11.5% 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 23.1% from 993 to 764 listings. Months of supply decreased from 1.5 to 0.9, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The median sales price in December was $263,044, an increase of 11.2% from one year ago and an increase of 13.1% from November. 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 December averaged 17 days on the market (DOM), 22 days faster than December 2019.
Forecast: December sales were 179 units, or 26%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 688 sales for the month, while actual sales were 867 units. ACRE forecast a total of 8,910 residential sales year-to-date, while there were 9,090 actual sales through December, a difference of 2%.
New Construction: The 290 new homes sold represent 33.4% of all residential sales in the area in December. Total sales increased 25% year over year. The median sales price in December was $313,412, an increase of 9.1% from November and an increase of 8% from one year ago.
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 December 1 – 31, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market.