Tag Archives: Homes for Sale

Think You Should FSBO? Think Again!

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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.

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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.

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Huntsville makes grandparents.com list of top places to retire

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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.

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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.

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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.

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The Ultimate List of Homebuyer Tips

The Internet is awash with short and incomplete lists of tips for homebuyers. For the many Americans unfamiliar with the home-buying process, trying to determine which tips to focus on could be confusing. Upon reading these lists, aspiring homebuyers must ask themselves, “Are these tips that industry experts would actually recommend, and are they worth spending my valuable time on?”

To remedy this problem, Market Leader gathered tips for homebuyers from half a dozen sources, put them all on one giant list, and, after removing the trivial and contradictory ones, surveyed almost 400 real estate agents about the importance of each tip. For the 17 tips featured in this survey, participants indicated whether they found them to be very, moderately or slightly important for homebuyers – or not recommendable at all!


Click here to read a list of more homebuyer tips

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“Alabama 3rd quarter home sales highest since 2007″

Click here to view or print the full quarterly report compliments of the Alabama Housing Finance Authority.

Alabama residential sales during the third quarter while sluggish continued to gradually improve, up 3.3 percent compared to the same period a year earlier. This is an improvement over the 2.3 percent growth experienced in the second quarter of the year. Total sales of 12,469 units represent the best third quarter since 2007 (15,051 units). With that said, third quarter sales are still 25.2 percent (was 25.0 percent last quarter) below the quarterly peak established in 2005 when 16,674 units were sold.

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View full sizeAlabama housing inventory down .9% from 3rd Quarter 2013. Infograph courtesy of ACRE. All rights reserved.

Supply: The statewide housing inventory average during the third quarter was 33,538 units, a decrease of .9 percent from the same period in 2013 and 17.7 percent below the third quarter peak in 2010 (40,745 units). There was 8.1 months of housing supply (7 months considered equilibrium during 3rd quarter) in the third quarter 2014, the same as last year (3Q). Historical data indicates that the third quarter inventory-to-sales ratio in 2014 decreased 23.6 percent from the 5-year average (10.6 months) and decreased 14.7 percent from the 3-year average.

Demand: Historical data indicates that third quarter sales in 2014 increased by 12.1 percent from the most recent 3-year average (’11-’13) and 18.3 percent from the 5-year quarterly average (’09-’13).

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View full sizeAlabama median sales price up 1.8% from 3rd Quarter 2013. Infograph courtesy of ACRE. All rights reserved.

Pricing: The statewide median sales price during the third quarter was $130,284, an increase of 1.8 percent from the same quarter in 2013. Historical data indicates that third quarter median price in 2014 increased by 3.6 percent from the most recent 3-year average and 3.2 percent from the 5-year quarterly average (’09-’13).

The Alabama Residential Quarterly Report is provided compliments of the Alabama Housing Finance Authority.

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ACRE was founded by legislative act in 1996 due to the efforts of the Alabama Real Estate Commissionthe Alabama Association of REALTORS and the Office of the Dean, UA Culverhouse College of Commerce to serve the State of Alabama real estate industry and the consumers it serves. ACRE is not a state-funded entity, rather its operates in part because of the goodwill & generosity of the ACRE Corporate Cabinet and our statewide ACRE Partners. Follow us @uaacre

Alabama Residential Quarterly Report: “3rd quarter sales highest since 2007″ | AL.com.

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Awesome in MidTowne!

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Enjoy carefree living with direct access to Indian Creek Greenway, literally minutes from work/dining/shopping, resort pool, lakes and a park. Better than new, this gorgeous Harrison plan by Mark Harris features beautiful hand scraped hardwood floors, isolated master suite on the main floor, open floor plan, granite countertops and custom cabinets in the gourmet kitchen and a huge loft with two additional bedrooms up. A large covered veranda and a privacy fenced back yard provide a great space for outdoor events. 6437 Lincoln Park Place

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