ALABAMA REAL ESTATE JOURNAL

Huntsville-area home sales increase 5% in April

Sales: According to ValleyMLS.com, April home sales in the Huntsville area increased 5.1% year-over-year (Y/Y) from 740 to 778 closed transactions. Sales decreased 0.9% from March. Sales are down 1.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

For all Huntsville-area housing data, click here.

Inventory: April listings (722) increased 7.4% from March and 40.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 0.9 months, an increase from 0.7 months in March and up from 0.6 months in April 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.

Pricing: The median sales price in April was $334,700, an increase of 18.3% from one year ago and an increase of 0.5% 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 8 days on the market (DOM), 5 days faster than April 2021. 

Forecast: April sales were 26 units, or 3.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 752 sales for the month, while actual sales were 778 units. ACRE forecast a total of 2,736 sales in the area year-to-date, while there were 2,661 actual sales through April, a difference of 2.7%. 

New Construction: The 235 new homes sold represent 30.2% of all residential sales in the area in April. Total sales increased 7.3% year-over-year. The median sales price in April was $363,900, a decrease of 0.6% from March and an increase of 21.3% 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.

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