According to ValleyMLS.com, February home sales in the Huntsville area decreased 3.1% year-over-year from 545 to 528 closed transactions. Following seasonal trends, sales increased 25.7% from January. Sales are up 2.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: February listings (2,392) increased 2.4% from January and increased 36.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.5 months, down from 5.6 in January, and up from 3.2 months in February 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 February was $317,950, a decrease of 3.7%nfrom one year ago and a decrease of 3.7% from January. 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 February averaged 71 days on the market (DOM), 25 days slower than February 2024.
Forecast: February sales were 10 units, or 1.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 518 sales for the month, while actual sales were 528 units.
New Construction: The 194 new homes sold represent 36.7% of all residential sales in the area in February. Total sales decreased 12.6% year-over-year. The median sales price in February was $339,307, a decrease of 5.4% from January and a decrease of 1.9% 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.
