Sales: According to ValleyMLS.com, November home sales in the Huntsville area increased 4.0% year-over-year (Y/Y) from 729 to 758 closed transactions. Sales decreased 8.1% from October. Sales are up 6.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: November listings (700) decreased 7.4% from October and 16.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 0.9 months, remaining unchanged from October and down from 1.2 months in November 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in November was $303,205, an increase of 30.4% from one year ago and an increase of 2.4% from October. 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 November averaged 12 days on the market (DOM), 16 days faster than November 2020.
Forecast: November sales were 1 unit, or 0.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 759 sales for the month, while actual sales were 758 units. ACRE forecast a total of 9,178 sales in the area year-to-date, while there were 8,722 actual sales through November, a difference of 5.0%.
New Construction: The 195 new homes sold represent 25.7% of all residential sales in the area in November. Total sales decreased 6.7% year-over-year. The median sales price in November was $347,230, an increase of 1.0% from October and 20.9% 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 November 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.