According to ValleyMLS.com, March home sales in the Huntsville area increased 13.4% year-over-year from 536 to 608 closed transactions. Following seasonal trends, sales increased 15.2% from February. Sales are up 6.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Huntsville-area housing data, click here.
Inventory: March listings (2,530) increased 5.8% from February and increased 39.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, down from 4.5 in February, and up from 3.4 months in March 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 March was $327,000, an increase of 2.0% from one year ago and an increase of 2.8% from February. 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 March averaged 58 days on the market (DOM), 12 days slower than March 2024.
Forecast: March sales were 9 units, or 1.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 617 sales for the month, while actual sales were 608 units.
New Construction: The 215 new homes sold represent 35.4% of all residential sales in the area in March. Total sales increased 6.4% year-over-year. The median sales price in March was $334,900, a decrease of 1.3% from February and an increase of 1.7% 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.
