According to ValleyMLS.com, December home sales in the Huntsville area decreased 2.6% year-over-year (Y/Y) from 538 to 524 closed transactions. Contrary to seasonal trends, sales increased 10.3% from November. Sales are down 18.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: December listings (1,811) decreased 2.4% from November and increased 19.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.5 months, down from 3.9 months in November, and up from 2.8 months in December 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The median sales price in December was $320,000, a decrease of 1.5% from one year ago and a decrease of 0.9% 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 39 days on the market (DOM), 17 days slower than December 2022.
Forecast: December sales were 33 units, or 5.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 557 sales for the month, while actual sales were 524 units. ACRE forecasts a total of 6,975 sales in the area year-to-date, while there were 6,796 actual sales through December, a difference of 2.6%.
New Construction: The 226 new homes sold represent 43.1% of all residential sales in the area in December. Total sales increased 9.7% year-over-year. The median sales price in December was $320,000, a decrease of 9.6% from November and a decrease of 12.2% from one year ago.
Click here to view the entire monthly report.
