Tag Archives: Homes for Sale

OPEN TODAY 2-4

3570 Avalon Lake Drive

OPEN HOUSE SUNDAY, MARCH 29, 2:00-4:00! $500 and a 640 credit score Moves You IN!! BRAND NEW HOME with Open floor plan with lots of space! Large family room, dining room, great kitchen with recessed lighting, laundry room, loft upstairs, Large master suite, Walk in closets in all 3 bedrooms gives you lots of extra storage space, 2 car garage, full brick, energy efficient and a 1-2-10 home warranty is included! Call today before our special pricing is gone.

Leave a comment

Filed under Real Estate for Everyone

Alabama new home starts in January rise 13 percent from last year

Alabama Center for Real Estate (ACRE)By Alabama Center for Real Estate (ACRE)
Follow on Twitter

Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Demand: Alabama’s new home sales in January slipped 2 units or .9 percent from the same period last year.

Total New Construction.jpg

Alabama new home sales in January on par with last year while inventory has increased 4% from the same period. Infograph courtesy of ACRE. All rights reserved.Alabama Center for Real Estate (ACRE) 

Supply: Housing starts have increased 13.0 percent since last January. New construction inventory has also increased 4.0 percent since January 2014.Three of five metro areas experienced increases in inventory levels from last January (Birmingham – up 10%, Mobile – up 7% and Tuscaloosa – up 6%).

Alabama’s metro markets in January reflect 8.4 months of new home supply, up 6 percent from last January’s 8.0 months and up 83 percent from 4.6 months in December.

Pricing: Alabama’s metro market’s median new home sales price in January was $235,510, an increase of 2.1 percent from last January and 5.6 percent from last month.

New Home Pipeline: January statewide housing starts increased by 13.0 percent from January 2014 but slipped 2.0 percent from the prior month. 2014 starts were down 2.0 percent. Housing starts were up 7.8 percent in 2013 and 6.5% in 2012. January statewide building permits were up .5 percent from January 2014 but down 5.6 percent from last month. 2014 permits were down .8 percent. Building permits were up 5.6% in 2013 and 8.4 percent in 2012.

Residential Construction Employment: According to the Alabama Dept. of Industrial Relations, statewide residential construction employment in December increased 1.2 percent (800 jobs) to 68,600 from last month and improved 9.2 percent (+5,800 jobs) from the same month a year ago. (Note: January figures are to be released on 3/17/15).

Local Results: 10 out of the 27 home builder associations (37% – down from 56% in Dec) reported gains in building permits from the prior month while 12 associations (44% – up from 33% in Dec) reported gains in housing starts from last month. Twenty associations (74% – up from 33% in Dec) experienced an increase from their January 2013 housing starts.

Industry Perspective: From David Crowe, NAHB chief economist: “The new year either will see the housing sector break out in a traditional, solid recovery or it will see another mundane nudge forward. It doesn’t take a Ph.D. in economics to know that. Unfortunately, any economist with two hands can list forces for both outcomes. But the scale is heavily tipped toward more growth in single-family construction in 2015 than any of the recovery years to date.”

This monthly report is provided compliments of the ACRE Corporate Cabinet.

View the current monthly Alabama Residential Report here.

++++++++++++++++++++++++

The ACRE New Construction Monthly Report is work product stemming from our partnership with the Home Builder’s Association of Alabama Foundation.

About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our ACRE Corporate Cabinet and other statewide ACRE Partners.

For other Alabama real estate resources & news, please visit our website and our ACRE blog.

Alabama new home starts in January rise 13 percent from last year | AL.com.

 

Leave a comment

Filed under Real Estate for Everyone

OPEN TODAY 2-4

_MG_2806

125 Mendenhall Drive, Madison AL, 35758

Incredible family home on a quiet cul-de-sac in Madison’s most desirable school district. Extensive attention to detail with heavy crown, trey ceilings, lots of wood and tons of natural light. The recently updated kitchen features granite, stainless and a gas cook top with double oven. Formal living and dining rooms. A fifth bedroom or study on the main level. Privacy abounds in the huge fenced back yard with large evergreen trees and stately hardwoods. HOA pools, tennis, trails, club house and stocked ponds.

Leave a comment

Filed under Things to do and see:

Think You Should FSBO? Think Again!

FSBO-2014.jpg (1500×1941).

Leave a comment

Filed under Ideas for Home Sellers

Huntsville/Madison County residential sales in January exceed forecast

Click here to view or print the entire January report compliments of the ACRE Corporate Cabinet.

Huntsville/Madison County area residential sales totaling 299 units in January were 8 units or 2.7 percent above our monthly forecast but were 4.8 percent below the same period a year ago.

Historical Sales.jpg
View full sizeHuntsville/Madison County residential sales slip 5% from last January. Inventory hits new peak in January. Infograph provided by ACRE. All rights reserved.

Supply: Huntsville housing inventory totaled 3,298 units, an increase of 475 units from last January and 16.3 percent above the 5-year January average of 2,836 units. New home inventory is up 3.8 percent year-over-year while existing single family is up 3.6 percent.

The inventory-to-sales ratio in January was 11.0 months of housing supply (7.4 months for new construction – up 17.5% from Jan’14). The market equilibrium (balance between supply and demand) is considered to be approximately 8-8.5 months during January. Huntsville is historically one of Alabama’s most balanced markets but it appears the market has, at least momentarily, got a little ahead of the recovery as it relates to additional new supply. With that said, the market in January began to mitigate the short-term excess as the inventory in Huntsville/Madison County experienced a .7 percent (22 units) decrease when compared to the prior month. This movement favorably contrast with historical data that indicate January inventory on average (‘1€0-’14) typically increases by 4.5 percent from the month of December.

Demand: Residential sales in January decreased 25.4 percent from the prior month. This direction is consistent with seasonal patterns and historical data indicating that January sales, on average (’10-‘€14), decrease from the month of December by 28.0 percent. New home sales were down 12.5 percent from January 2013. Existing single family home sales accounted for 81 percent (up from 72% in Jan’14) of total sales, new homes sales accounted for 17 percent (up from 26% in Jan’14) while condos were 2 percent of sales (same as Jan ’14).

Pricing: The Huntsville median sales price in January was $155,000, an increase of .4 percent from January 2014 but a 8.8 percent decrease from the prior month as a result of the short-term supply/demand imbalance. This direction is consistent with historical data (’10-’14) indicating that the January median sales price traditionally decreases from the month of December by 4.0 percent. It’s important to note that pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate. ACRE recommends contacting a local real estate professional to discuss pricing at the neighborhood level.

Industry Perspective: “Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting. These results are in line with lender optimism about future growth in their mortgage origination business, as shown in our Mortgage Lender Sentiment Survey™. Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery.” For full report, go HERE.

View the current monthly Huntsville Residential Report here.

The Huntsville Residential Monthly Report is work product developed in conjunction with the Huntsville Area Association of REALTORS to better serve North Alabama consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current available data. Real estate is local and statistics will fluctuate between areas within a city including subdivisions. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market.

About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.

Alabama real estate resources & news, please visit our website and our ACRE blog. You can also follow ACRE from our facebook page, just “like” http://www.facebook.com/acreua and/or follow on twitter at @uaacre.

Huntsville/Madison County residential sales in January exceed forecast | AL.com.

Leave a comment

Filed under Madison County "in the news"

Huntsville makes grandparents.com list of top places to retire

13911944-mmmain

Huntsville made the short list of surprising places that make great retirement destinations.

The Rocket City and five others were recognized by grandparents.com, as 6 Best Places to Retire . . . in 10 years. The six were noted as places that “don’t always make the national top 10 lists but are a boon for retirees nonetheless,” and are “poised for big things.”

Most of the cities were in the Sun Belt that are not only warm in winter but also offer tax havens. The article pointed out that Alabama and Florida don’t tax Social Security benefits and have property tax breaks for seniors.

Huntsville was singled out for a “thriving economy” and “sophisticated, city-like feel.” The article gave a nod to award winning chef James Boyce, numerous boutiques and Huntsville being the epicenter of Southeastern craft brewing. It also complimented the natural beauty that invited outdoor recreation.

The other five cities in the list are

  • Mount Dora, Fla.
  • Sequim, Wash.
  • Dahlonega, Ga.
  • Chattanooga, Tenn.
  • Bluffton, S.C.

Huntsville makes grandparents.com list of top places to retire | AL.com.

Leave a comment

Filed under Madison County "in the news"

Huntsville/Madison County residential sales up 4% in December

Huntsville/Madison County area residential sales in December improved 4.4 percent from the same period a year earlier. Total sales of 401 units were 9 units or 2.3 percent above our monthly forecast. The Center’s 2014 sales forecast projected 5,219 closed transactions while the actual sales were 4,901 units, a 6.1 percent cumulative variance.

Historical Sales.jpg
View full sizeHuntsville/Madison County residential sales up 4% from last December. Inventory hits new peak in December. Infograph provided by ACRE. All rights reserved.

Supply: Huntsville housing inventory totaled 3,320 units, an increase of 449 units from last December and 20.7 percent above the 5-year December average of 2,750 units. New home inventory is up 75.5 percent year-over-year while existing single family is up 2.8 percent.

The inventory-to-sales ratio in December was 8.3 months of housing supply (7.1 months for new construction – up 4.3% from Dec’13). The market equilibrium (balance between supply and demand) is considered to be approximately 8-8.5 months during December. Huntsville is historically one of Alabama’s most balanced markets but it appears the market has, at least momentarily, got a little ahead of the recovery as it relates to additional new supply. With that said, the market in December began to mitigate the short-term excess as the inventory in Huntsville/Madison County experienced a 5.8 percent (203 units) decrease when compared to the prior month. This movement is consistent with both seasonal listing trends & historical data that indicate December inventory on average (€™09-€™13) typically decreases by 7.1 percent from the month of November.

Demand: Residential sales in December improved 21.9 percent from the prior month. Historical Huntsville data reflects that December sales, on average (€™09-€™13), decrease from the month of November by .1 percent so this break from the norm is encouraging news. New home sales were up 6.6 percent from December 2013. Existing single family home sales accounted for 72 percent (up from 65% in Dec’13) of total sales, new homes sales accounted for 16 percent (up from 12% in Dec’13) while condos were 2 percent of sales (down from 3% in Dec’13). 2014 sales were 5.7 percent below 2013.

Pricing: The Huntsville median sales price in December was $169,900, a decrease of 7.4 percent from December 2013 and 4.0 percent from the prior month as a result of the short-term supply/demand imbalance. Historical data (09-13) indicates that the December median sales price traditionally increases from the month of November by 5.0 percent. It’s important to note that pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate. ACRE recommends contacting a local real estate professional to discuss pricing at the neighborhood level.

Industry Perspective: “The housing market is likely to continue its gradual climb upward next year after a sub-par 2014,” according to Doug Duncan, senior vice president and chief economist at Fannie Mae. “We anticipate a fairly strong increase in housing starts in response to stronger employment and some improvement in related household incomes. As a result, that may help to unfold some of the suppressed household formation numbers and incent builders to meet some of that increased demand. For all of 2015, we expect total housing starts to increase by about 22 percent and total home sales to rise approximately 5 percent, with total mortgage origination ticking up slightly to $1.13 trillion.” For full report, go HERE.

View the current monthly Huntsville Residential Report here.

The Huntsville Residential Monthly Report is work product developed in conjunction with the Huntsville Area Association of REALTORS to better serve North Alabama consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current available data. Real estate is local and statistics will fluctuate between areas within a city including subdivisions. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market.

About ACRE. ACRE was founded in 1996 by the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of our statewide ACRE Partners.

Alabama real estate resources & news, please visit our website and our ACRE blog. You can also follow ACRE from our facebook page, just “like” http://www.facebook.com/acreua and/or follow on twitter at @uaacre.

Huntsville/Madison County residential sales up 4% in December; 2014 sales slip 6% | AL.com.

Leave a comment

Filed under Madison County "in the news"