According to ValleyMLS.com, June home sales in the Huntsville area increased 5.2% year-over-year from 651 to 685 closed transactions. Contrary to seasonal trends, sales decreased 5.3% from May. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: June listings (2,237) increased 3.2% from May and increased 42.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.3 months, up 0.3 from May, and up from 2.4 months in June 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 June was $339,900, a decrease of 0.1% from one year ago and a decrease of 0.1% from May. 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 June averaged 35 days on the market (DOM), 10 days slower than June 2023.
Forecast: June sales were 21 units, or 3.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 664 sales for the month, while actual sales were 685 units. ACRE forecasted a total of 3,345 residential sales in the area year-to-date, while there were 3,453 actual sales through June, a difference of 0.2%.
New Construction: The 240 new homes sold represent 35.0% of all residential sales in the area in June. Total sales increased 22.4% year-over-year. The median sales price in June was $340,000, a decrease of 3.1% from May and a decrease of 4.9% 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.
