HUNTSVILLE, Alabama — Home sales in Huntsville and Madison County in April increased 31.78 percent over March and 68.66 percent over the same month a year ago, according to data released Wednesday by the Huntsville Area Association of Realtors.
The dramatic increase in sales from last April was due largely to the effects of the tornadoes of last April 27, HAAR said.
Oscar Gonzales, the CEO of HAAR, cited pending home sales and an improving economy as reasons for optimism about home sales in the coming months.
“We anticipate home sales to continue to rise as the overall economy recovers,” he said in a release. “One of the indicators we base our estimates on is pending home sales. A sale is listed as pending when the contract has been signed but the sale has not closed, though the sale usually is finalized within one or two months of signing.
“It is an indicator, a barometer of sorts.”
Pending home sales increased 16.83 percent compared to March and 55.83 percent compared to last April, HAAR said.
At $158,000, the April single-family home median price – the price at which half of the homes sold for more and half sold for less – increased 1.35 percent from March and decreased 9.66 percent from last April.