According to ValleyMLS.com, January home sales in the Huntsville area decreased 1.3% year-over-year (Y/Y) from 383 to 378 closed transactions. Contrary to seasonal trends, sales decreased 27.9% from December. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: January listings (1,738) decreased 4.0% from December and increased 16.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.6 months, up from 3.5 months in December, and up from 3.9 months in January 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The median sales price in January was $330,000, an increase of 4.8% from one year ago and an increase of 3.1% 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 40 days on the market (DOM), 12 days slower than January 2023.
Forecast: January sales were 21 units, or 5.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 399 sales for the month, while actual sales were 378 units. .
New Construction: The 111 new homes sold represent 29.4% of all residential sales in the area in January. Total sales decreased 7.5% year-over-year. The median sales price in January was $343,738, an increase of 7.4% from December and a decrease of 6.4% from one year ago.
Click here to view the entire monthly report.
