The National Association of REALTORS® has published the results of its quarterly sales survey and found that the median home price continues to rise in most metropolitan areas. The median is a typical market price – meaning half of all homes sold for more, and half of all homes sold for less.
Lawrence Yun, NAR chief economist, said the data underscores the fact that all real estate is local. “Some metro areas are hot, while others are experiencing localized problems,” he said.
The November sales statistics for Huntsville and Madison counties will give us a better idea of our local market:
Huntsville/Madison County Market Statistics
The Huntsville and Madison County markets continued to see slightly lower sales in November 2007, when compared to November 2006. The number of sold listings decreased by 5%. The average list price and average sales price both increased by 10% this November to $211,529 and $207,194, respectively. The price per square foot increased by $6 to $91/sf. The market times increased 16% in November 2007, with homes staying on the market for an average of 103 days.|
Date |
Sold Listings |
Average List Price |
Average Sale Price |
Percent SP/LP |
Average DOM |
Average Price SqFt |
|
November 2007 |
441 |
$211,529 |
$207,194 |
98% |
103 |
$91 |
|
November 2006 |
465 |
$189,645 |
$187,536 |
99% |
87 |
$85 |
Remember, as Yun said, all real estate is local and changes from month to month. To get the latest information on Huntsville AL real estate, please call me at 256-508-0211 or visit MoveToHuntsville.com. To receive a complimentary home value analysis, please visit HuntsvilleHouseValue.com.
Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.