Sales: According to ValleyMLS.com, January home sales in the Huntsville area decreased 15.1% year-over-year (Y/Y) from 617 to 524 closed transactions. Sales decreased 38.1% from December. Sales are down 15.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: January listings (547) decreased 9.0% from December and 7.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.0 months, up from 0.7 months in December and remaining the same as last January. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in January was $309,950, an increase of 19.2% from one year ago and a decrease of 1.6% from December. 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 January averaged 13 days on the market (DOM), 5 days slower than January 2020.
Forecast: January sales were 91 units, or 14.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 615 sales for the month, while actual sales were 524 units. ACRE forecast a total of 615 sales in the area year-to-date, while there were 524 actual sales through January, a difference of 14.8%.
New Construction: The 147 new homes sold represent 28.1% of all residential sales in the area in January. Total sales decreased 13.5% year-over-year. The median sales price in January was $340,000, a decrease of 0.8% from December and an increase of 16.3% 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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.