Guntersville has seen a lot of interest from interested home buyers. In fact, if you are considering buying a home here, you’ll want to work with a local real estate agent that knows the market well. Guntersville is a smaller community that’s growing in size rapidly due to new development and new construction overall. The area has plenty of amenities to offer, a fantastic location, and plenty of good schools and local programs. It is no wonder, then, that this portion of Alabama is one that many are considering buying a home in.
Taking a Look at the Numbers
One of the best ways to determine if a community is right for you in terms of investment potential is to simply look at the factors and figures related to the real estate market. For example, the median sale price of homes in Guntersville as of December of 2016 was $209,000. This is just $95 per square foot, a very affordable rate compared to many areas in the region. It also represents a significant amount of recent growth. Over the last year, the median sale price has risen by 57 percent. That’s based on the sale of 34 homes in the area. The average price per square foot rose by 20 percent during that time.
What if you are not sure if you should buy or rent a home here? The average rent for a single-family home in Guntersville stood at $1350 per month during this time. Rental rates are on their way up, too. They’ve grown by 35% in the last year. Often, it’s better to see your home’s value rise over time rather than seeing your rent rise. For many buying here just makes better sense.
To get into this competitive market, buyers should take into consideration working with a local Guntersville real estate agent. With the right support, you’ll have no trouble finding an ideal home.