Are you thinking about moving and wondering if now is really the best time to buy? If you are in the Huntsville market, chances are good you will want to find your dream home now. Many areas of Huntsville are seeing interest from home buyers and that is helping to boost home prices. Yet, there are still many homes listed for sale. That means finding a home that is affordable and offers the likelihood of the value rising is easier to see than ever. Before you make your move to buy a home in Huntsville, though, take a closer look at the market and all that it can offer to you.
Market Conditions in Huntsville, Alabama
Huntsville is a large real estate market. It is home to a number of different neighborhoods and smaller communities. However, there are 1,270 homes for sale as of April of 2016. Of those homes, there are nearly 600 that are in some stage of foreclosure or are bank-owned. These can present a significant opportunity to buy affordably. There are also several new developments in and around Huntsville. These home prices may be significantly more than those in Huntsville on average, but they are newer homes with custom designs.
The median sale price for a home in Huntsville is $135,700 as of the end of April of 2016. The average price per square foot is about 476. And, if you are in the market to rent, you’ll pay about $900 for a home. Keep in mind that this is about what you can expect to pay for a mortgage in some areas well. Overall, home prices have fallen by about six percent from this time in 2015, making now the ideal time to buy a home if you want affordability.
If it is time for you to buy a home in Huntsville, contact our local real estate agents and learn more about the options available to you.