According to ValleyMLS.com, September home sales in the Huntsville area increased 2.2% year-over-year from 622 to 623 closed transactions. Following seasonal trends, sales decreased 3.3% from August. Sales are up 2.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: September listings (2,633) decreased 0.8% from August and increased 45.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, up from 4.1 in August, and up from 2.9 months in September 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 September was $3238,312 an increase of 3.9% from one year ago and an increase of 3.9% from August. 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 September averaged 42 days on the market (DOM), 13 days slower than September 2023.
Forecast: September sales were 9 units, or 1.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 632 sales for the month, while actual sales were 623 units. ACRE forecasted a total of 5,351 residential sales in the area year-to-date, while there were 5,423 actual sales through September, a difference of 1.4%.
New Construction: The 233 new homes sold represent 37.0% of all residential sales in the area in September. Total sales increased 5.9% year-over-year. The median sales price in September was $340,515, an increase of 3.5% from August and an increase of 1.0% 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.
