April 2008 Market Update
With April 2008 statistics now available, we take a brief look at Huntsville Real Estate (Huntsville/Madison City Limits) and determine if there has been any significant shift in the trends that we have seen over the last 5 to 6 months. Notably that inventory has been increasing, sales declining, and price’s flattening. The following graphic illustrates the Huntsville Real Estate sales performance for the month:
The recent year over year trend we have been seeing over the last 5-6 months is continuing, with inventory up 6% to 1763 Homes (although the rate of inventory growth is slowing), sales declined -23% to 224 Homes, and our monthly absorption inventory has grown from a 5.47 month supply last April to a 8.52 month supply indicating that the Huntsville Real Estate market is squarely in buyer territory.
Given that Huntsville Real Estate has pent up demand with BRAC relocations underway and continuing for the next 2-3 years and supply growth 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