The Numbers from the April 2018 Huntsville Market Are In

    The market numbers for April 2018 are in, and I want you to be the first to see them.

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    On today’s episode of “Monday Morning Coffee,” we are discussing the market numbers for April 2018.

    In comparing last year’s stats to this year’s, we’re continuing to see an increase in sales and home values, while seeing a decrease in the available inventory. Our North Alabama residential sales overall totaled 661 homes, which represents an 11% increase in sales compared to the same period last year.

    We also saw an increase in the average sales price by more than 6%, coming in at nearly $225,000. Additionally, the average list price for our Huntsville-Madison area is just over 5%, sitting at $228,000.

    How long does it take to get a home off the market? Well, the average days on market decreased by 35%, taking us to a jaw-dropping average of 60 days on the market.

    We’re currently looking at two months of available inventory, which verifies that we’re still in a strong seller’s market. It also means we continue to have more buyers looking for homes than we have available.

    For sellers, this is great news.

     

    Buyers, on the other hand, need to make sure that they’re acting fast and working with a specialist to make their offers strong so that they can win the best homes.

    As for the first quarter review, the real estate industry performed at record levels. Sales of residential properties in the first quarter of 2018 increased significantly compared to 2017 and prior years.

    New listings of properties for sale have grown at a slower pace compared to the sales, resulting in a continued decline in properties listed for sale. Average and median sales prices continued to rise with the increased number of transactions.

    The underlying economic conditions for Madison County are also strong, as shown by the growth in the population workforce, income, and the GDP. With a growing economy, it’s reasonable to expect that the demand for properties should continue to trend upwards.

    I’ve also included a detailed breakdown of the market numbers for you in the chart below. To view the entire first quarter report of 2018, please click here.

    If you or someone you know is interested in buying or selling a home, please feel free to reach out to us. We’d be happy to help!

    This Week’s Closings, Congratulations!

    Mr. Devin Rosin

    Mr. Neil Desai

    Mr. and Mrs. Ross and Dana Metcalf and Ms. Peggy Wilbourn

    Mr. Gary D. Joyce

    Mr. and Mrs. Donald and Mary Anne Morton

    Ms. Conni Sullivan

    Ms. Danielle Griffin and Mr. Jeffrey Woodward

    Ms. Susan Maples

    Mr. Jeffery Graham

    Mr. and Mrs. Edward and Carol Aycock

    Mr. and Mrs. Greg and Charlotte Thompson

    Mr. Charles Franklin

    Mr. and Mrs. Joseph and Laura Ferguson

    Mr. Jacob Harris

    Mr. and Mrs. Phillip and April Shaw

    Mr. and Mrs. Franklin and Karen Newsome Jr.

    Mr. and Mrs. Bryan and Julie Baldwin

    Mr. and Mrs. Terry and Panisha Stigger

    Ms. Stephanie Horton

    Mr. Brandon Laseter

    Ms. Anne Diekmann

    Mr. Michael Williams

    Ms. Jennifer Williams

    Mr. Robert Turner

    Mr. and Mrs. Ricky and Maxine Bonta

    Mr. Taylor Smith

    Mr. Earl Cain

    Mr. Matthew Baity and Ms. Amanda Lamartiniere

    Ms. Laura McCamy

    Mr. and Mrs. Marge and Haley Loveday

    Mr. and Mrs. Andrew and Barbara Gallagher

    Mr. and Mrs. Ahmad and Farideh Alavi

    Mr. and Mrs. Richard and Patricia Carrol

    Mr. and Mrs. Thomas and Kelly McInnis

    Mr. and Mrs. Ladislaus and Diane Morvay

    Mr. and Mrs. Roger and Dolores Stephenson

    Mr. and Mrs. Vernon and Marianne Diekmann

    Mr. and Mrs. Robert and Darla Mayo

    Mr. and Mrs. Michael and Bonnie Chappell

    Mr. and Mrs. Robert and Sherry Shepard

    Hot New Listings For Sale:

        Huntsville

        2639 Bonita Circle SW $180,000

        2511 Andrew Jackson Way $118,000

        6600 Grean Meadow Road $130,000

        Limestone/Morgan County

        1408 Brownstone Ave $138,000

        Madison County

        5202 Highway 431 $825,000

        128 Madelyn Drive $326,750

        4026 Windswept Drive $189,900

        3423 Old Railroad Bed Road $488,500

        131 Spearpoint Lane $269,900

        235 Shady Lane $225,000

        1117 Opp Reynolds Road $125,000

        113 Stony Crossing Road $312,890

        116 Mill Park Lane $359,000

       120 Amelia Drive $246,500

        140 Joe Fletcher Drive $139,000

        164 Jones Road $175,000

        205 Harborview Drive $544,900

        Marshall/Jackson/Grant/Blount/Dekalb

       1023 Hillcrest Road NW $575,000

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