January Real Estate Market Update for North Alabama

In this edition of Monday Morning Coffee, we’re going to go over the latest numbers for the Huntsville/Madison County real estate market through January 2017.

In comparing last year’s stats to this year’s, we’re seeing a bit of a mixed bag. North Alabama residential sales totaled 367 in January, a 3% increase in sales from the same period last year. We also saw a very slight increase in the average sale price by about 0.25%. The average days on market increased by 12%, taking us to an average of 83 days.

The average list price of our homes also increased by about 0.25%, coming out to just over $206,000. With four months of available inventory, we are definitely in a seller’s market. This means we have more buyers looking for homes than we have available inventory for sale. I’ve been sharing this number for months and it just keeps getting lower.

The market is definitely favoring home sellers right now. Our buyers are searching for homes daily, waiting for the right one to become available. Yours could be the perfect match. Please call us today if this is of interest to you.

If you or someone you know is interested in buying or selling a home, give us a call or send us an email. We are always happy to help. Until next time, make it a great week!