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Market update and life begins again

It is satisfying to see activity coming alive again in Huntsville. As citizens go back to work, are able to shop and visit restaurants again, people have a sense that things will get better soon. I am optimistic that next month’s market update will show an increase in home sales in Huntsville. We just need more houses to sell. With the Huntsville market having less homes in the affordable $200,000 range for sale, now is a perfect opportunity for you to move up in house and put your home on the market.

Let’s take a look at last month’s numbers. In May of 2020, twenty-seven single-family homes sold for an average price of $187,139. Fourteen country homes and acreages sold for an average price of $211,261. Compared to May of 2019, thirty-six single-family homes sold for an average price of $218,468. Twenty-five percent more single-family homes sold this year over last year and the average price was twelve percent higher. Seventeen country homes and acreages sold for an average price of $403,598 last year, which is substantially higher than the average price last year, but almost the same number of properties sold.

Currently in Huntsville, there is a true lack of the homes in the $200,000 range and below available for sale. Homes that were having a hard time selling prior to the pandemic are getting snapped up, because there are so few homes to choose from. Other trends local Realtors are seeing is an appetite for land. People have a desire to move from the big cities and purchase homes on an acre or more to get away from the large city populations.

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