According to ValleyMLS.com, August home sales in the Huntsville area decreased 0.3% year-over-year from 644 to 642 closed transactions. Following seasonal trends, sales decreased 0.9% from July. Sales are up 1.4% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: August listings (2,699) increased 1.2% from July and increased by 1.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, up from 4.2 months in July, and up from 4.1 months in August 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 August was $330,450, an increase of 1.4% from one year ago and a decrease of 3.2% from July. 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 August averaged 52 days on the market (DOM), 15 days slower than August 2024.
Forecast: August sales were 98 units, or 13.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 740 sales for the month, while actual sales were 642 units. ACRE forecast a total of 5,156 home sales year-to-date, while there were 4,887 actual sales through August, a difference of 5.2%.
New Construction: The 201 new homes sold represent 31.3% of all residential sales in the area in August. Total sales decreased by 13.4% year-over-year. The median sales price in August was $365,715, an increase of 3.8% from July and an increase of 11.2% 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.
