ALABAMA REAL ESTATE JOURNAL

Huntsville-area home sales up 19% year-over-year in December

According to ValleyMLS.com, December home sales in the Huntsville area increased 18.7% year-over-year from 524 to 622 closed transactions. Following seasonal trends, sales increased 14.1% from November. Sales are up 5.3% year-to-date. Two more resources to review: Quarterly Report and Annual Report. 

For all Huntsville-area housing data, click here. 

Inventory: December listings (2,347) decreased 6.6% from November and increased 29.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.8 months, down from 4.6 in November, and up from 3.5 months in December 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 December was $325,000, an increase of 1.6% from one year ago and an increase of 1.9% 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 59 days on the market (DOM), 20 days slower than December 2023.  

Forecast: December sales were 89 units, or 16.7%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 533 sales for the month, while actual sales were 622 units. ACRE forecasted a total of 6,902 residential sales in the area year-to-date, while there were 7,154 actual sales through December, a difference of 3.7%. 

New Construction: The 226 new homes sold represent 36.3% of all residential sales in the area in December. Total sales didn’t change year-over-year. The median sales price in December was $338,445, an increase of 8.8% from November and an increase of 5.8% 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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