According to ValleyMLS.com, November home sales in the Huntsville area decreased 8.4% year-over-year from 545 to 499 closed transactions. Contrary to seasonal trends, sales decreased 24.4% from October. Sales are up 19.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: November listings (2,379) decreased 1.1% from October and decreased by 5.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.8 months, up from 3.6 months in October, and up from 4.6 months in November 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 November was $336,004, an increase of 5.3% from one year ago and ad decrease of 1.1% from October. 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 November averaged 51 days on the market (DOM), 4 days faster than November 2024.
Forecast: November sales were 74 units, or 12.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 573 sales for the month, while actual sales were 499 units. ACRE forecast a total of 7048 home sales year-to-date, while there were 6,717 actual sales through November, a difference of 4.7%.
New Construction: The 145 new homes sold represent 29.1% of all residential sales in the area in November. Total sales decreased by 37.8% year-over-year. The median sales price in November was $336,004, a decrease of 6.1% from October and an increase of 8.0 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.
