Huntsville, Madison, and Athens Alabama Real Estate

Current Huntsville Alabama Market

Seasonally the Huntsville Metro Area normally experiences a jump in home sales from April into May and this year is no different when it comes to the seasonality of residential real estate sales. According to MLS statistics single family home sales increased 11% in May (271) over April (245) in the Huntsville Metro Area. However when comparing the current market with last year’s same seasonal increase of 19%, a more realistic picture of current market conditions is revealed.

A recent article in the Huntsville Times quoted several local Realtors® with upbeat assessments saying, “Local homes sales surged in May to the highest level in 9 months”. Well let’s hope so, because this statement would have likely been true for every month of May for the past 10 years. So in keeping with our motto when it comes to market commentary, ‘To Spin is to Sin’, we again choose to keep our comments real and refrain from intentionally spinning market statistics either positively or negatively.

The fact of the matter is that the Huntsville Real Estate Market is now some 35% smaller than its peak and the national economic crisis has and is taking a toll on our local market. However the good news is that despite the slower sales rates of 2008-2009, average home prices have held up well, much better than many parts of the country, and have only moderately declined 2-3% within most price ranges.