Skip To Content

May 2023 market report

Huntsville residential sales for May 2023 totaled 665 units, representing a decrease of 16.4% when compared to the 795 units that were sold in 2022. May residential sales on average (2018-2022) increased by 6.4%. Sales decreased 7.6% from the prior month.

The median sales price in Huntsville for May was $341,000, a 0.2% decrease from the 2022 median sales price of $341,838. May’s median sales prices on average (2018-2022) increased 2.8%. The median price increased 2.7% from the previous month.

The average sales price in Huntsville for the current month was $386,687, a 1.3% increase from one year ago. May’s average sales prices on average (2018-2022) increased by 2.8%. The average price increased 3.2% from the prior month.

Average number of days on the market for May was 34 days, representing an increase of 26 days from the previous year. The 5-year DOM average (2018-2022) for the month of May is 32 days, which is 2 days below current results. Average DOM is anticipated to remain within the current range (10 – 60 days) for the foreseeable future.

Huntsville residential units listed for sale in May increased by 581 units when compared to the same period in 2022. The inventory for sale divided by the current monthly sales volume equals the number of months of supply (market considered to be in balance at approximately 6 months). The Huntsville area currently has 2.2 months of supply, a 99.0% increase from 1.1 months in 2022. May’s 2.2 months of supply is above the 5-year average of 1.4 months. 

Huntsville’s inventory-to-sales ratio is 3.8 months below equilibrium, indicating a continued transition where sellers typically have elevated bargaining power.

Source: Alabama Center for Real Estate

Trackback from your site.

Leave a Reply



About our blog

Follow our YouTube Channel and +1 us on Google Plus!



Contact Us Now