April 2008 Market Update
In a previous entry we analyzed the supply and demand trends of the North Alabama Real Estate market. The trends we have been seeing over the last 6 months have been an increase in supply and a decline in unit sales. In any market regards of product, one would certainly think that pricing would be responding to the current supply/demand model and this is certainly the case when looking at the overall ValleyMLS marketplace.
The following chart illustrates the price dynamics over the last 12 months, along side the market’s longer term moving average:
What can be seen in the chart is that during the inventory buildup and sales decline of the last 6 months, prices have soften from their peak in June 2007 with the last few months moving below the longer term moving average and stabilizing. However the longer term trend over the last two years is still in a positive direction as we head into our peak selling season.
Given that Huntsville Real Estate has pent up demand with BRAC relocations underway and continuing for the next 2-3 years and supply beginning to slow, we believe that we may very well be looking at an excellent buying opportunity now and threw the summer season. If your moving to Huntsville or entering the market we would certainly welcome an opportunity to assist you in any way we can, so don’t hesitate to contact us if we can be of service.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment