To continuing our absorption rate studies for the various Huntsville Real Estate market segments, in this post we present a current market snapshot of East Huntsville city limits. This MLS area includes the Owens Crossroads community and one of the more popular communities in Huntsville, Hampton Cove, which hosts a 630 acre, 54 hole, championship Robert Trent Jones Golf Course surrounded by tall oak, pine and maple trees, majestic green mountains and meandering lakes and offers some of the most attractive golf scenery in Alabama.
The following table illustrates this market segment segregated further by price. Note the variety of market conditions across the various price ranges. In this localized market example we again see upward price pressure in the low end where inventory is limited, balanced price pressure in the middle, and some downward price pressure in upper end homes where inventory is currently plentiful. Note how the current monthly supply steadily increases almost proportionally with price.
| East Huntsville - April 2008 Market Snapshot | ||||
|---|---|---|---|---|
| Price Range |
Demand Per Month |
Current Inventory |
Months of Supply |
Market Type |
| $100k - $200K | 2.27 | 11 | 4.83 | Seller |
| $200k - $300K | 9.34 | 50 | 5.35 | Balanced |
| $300k - $400K | 7.21 | 48 | 6.65 | Transitional |
| $400k - $500K | 3.02 | 25 | 8.28 | Buyer |
| $500k - $600K | 3.30 | 33 | 10 | Buyer |
| $600k - $800k | 1.85 | 26 | 14 | Buyer |
| $800k & Up | 1.55 | 31 | 20 | Buyer |
When segregating this area into neighborhood or neighborhood-groups the absorption rate of the mini markets can be invaluable in assisting a potential seller in pricing their home. For a buyer it is always nice to know when the pricing pressure is on your side of the market. If you are currently investigating buying or selling a Huntsville Home and not already working with a Realtor we would certainly welcome an opportunity to interview for your business and provide additional information in your particular price range across a number of Huntsville Neighborhoods around the area.
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