According to ValleyMLS.com, May home sales in the Huntsville area increased 2.8% year-over-year from 723 to 743 closed transactions. Following seasonal trends, sales increased 12.1% from April. Sales are up 7.0% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: May listings (2,740) increased 15.7% from April and 26.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.7 months, up from 3.6 months in April, and up from 3.0 months in May 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The median sales price in May was $338,000, a decrease of 0.6% from one year ago and an increase of 2.4% from April. 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 May averaged 46 days on the market (DOM), 9 days slower than May 2024.
Forecast: May sales were 30 units, or 4.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 713 sales for the month, while actual sales were 743 units.
New Construction: The 236 new homes sold represent 31.8% of all residential sales in the area in May. Total sales decreased by 12.9% year-over-year. The median sales price in May was $349,875, an increase of 7.0% from April and a slight decrease of 0.3% 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.
