According to ValleyMLS.com, April home sales in the Huntsville area decreased 5.2% year-over-year from 618 to 586 closed transactions. Contrary to seasonal trends, sales increased 9.3% from March. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: April listings (1,973) increased 8.8% from March and 42.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.4 months, constant from March, and up from 2.2 months in April 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 April was $336,430, an increase of 1.3% from one year ago and 5.0% 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 50 days on the market (DOM), 13 days slower than April 2023.
Forecast: April sales were 42 units, or 6.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 628 sales for the month, while actual sales were 586 units. ACRE forecast a total of 2,124 residential sales in the area year-to-date, while there were 2,045 actual sales through April, a difference of 3.7%
New Construction: The 185 new homes sold represent 31.6% of all residential sales in the area in April. Total sales decreased 9.8% year-over-year. The median sales price in April was $345,990, an increase of 5.1% from March and a decrease of 0.5% 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.
