Sales: According to ValleyMLS.com, April home sales in the Huntsville area increased 11% year-over-year (Y/Y) from 667 to 740 closed transactions, marking 10 consecutive months of Y/Y gains. Following seasonal trends, sales decreased 3.14% from March. Sales are now up 9.8% 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 61.1% year-over-year from 1186 to 461 listings which was a record low. Months of supply decreased from 1.8 to 0.6, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The median sales price in April was $283,045, an increase of 14.76% from one year ago and an increase of 4.13% from March. 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 April averaged 13 days on the market (DOM), 20 days faster than April 2020.
Forecast: April sales were 106 units, or 12.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 846 sales for the month, while actual sales were 740 units. ACRE forecast a total of 2,995 sales in the area year-to-date, while there were 2,710 actual sales through April, a difference of 9.53%.
New Construction: The 219 new homes sold represent 29.6% of all residential sales in the area in April. Total sales decreased 1% year-over-year. The median sales price in April was $299,900, an increase of 6% from March and an increase of 31.6% 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 April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.