Tag Archives: Huntsville

Huntsville/Madison County March residential sales up 21% from last year

Alabama Center for Real Estate (ACRE)By Alabama Center for Real Estate (ACRE)
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Click here to view or print the entire March report compliments of the ACRE Corporate Cabinet.

Sales: Huntsville/Madison County residential sales totaled 468 units in March, an increase in sales growth of 21.2 percent or 82 units from the same period last year. This represents the best sales results for the month of March since 2007. Year-to-date sales through March are 6.2 percent above 2014.

Forecast: Closed transactions in March were 89 units or 23.5 percent above the Center’s monthly forecast. ACRE’s year-to-date sales forecast through March projected 998 closed transactions while the actual sales were 1,097 units, a favorable cumulative variance of 9.9 percent.

Historical sales.jpg

Huntsville/Madison County residential sales improve 21% from last March. Inventory is 4% below monthly peak established in 2011. Infograph provided by ACRE. All rights reserved.Alabama Center for Real Estate (ACRE) 

Supply: Huntsville housing inventory totaled 2,993 units, a decrease of .5 percent or 16 units from last March and only .5 percent above the 5-year March average of 2,983 units. New home inventory is up 21.5 percent year-over-year while existing single family inventory is down 3.5 percent.

The inventory-to-sales ratio in March was 6.4 months of housing supply (5.3 months for new construction – up 35.9% from March’14 when it stood at 3.9 months). The market equilibrium (balance between supply and demand) is considered to be approximately 7.5 months during March (NSA). Huntsville was one of Alabama’s most balanced markets in March. The market in March experienced a 8.6 percent (81 units) decrease when compared to the prior month. This movement favorably contrast with historical data that indicate March inventory on average (‘1€0-’14) typically increases by 3.4 percent from the month of February.

Demand: Residential sales in March also increased 41.8 percent from the prior month. This direction is consistent with seasonal patterns and historical data indicating that March sales, on average (’10-‘€14), increase from the month of February by 23.4 percent. New home sales remain soft, down 12.9 percent from March 2014. Existing single family home sales accounted for 76 percent (up from 70% in Mar’14) of total sales, new homes sales accounted for 20 percent (down from 28% in Mar’14) while condos were 4 percent of sales (up from 2% in Mar’14).

Pricing: The Huntsville median sales price in March was $158,432, a slip of 3.9 percent from March 2014 and 5.6 percent decrease from the prior month. This direction unfavorably contrast with historical data (’10-’14) indicating that the March median sales price traditionally increases from the month of February by .2 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 being patient prior to entering the housing market. Our March survey results emphasize how critical attitudes about income growth are to consumers’ outlook on housing,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “We’ve seen modest improvement in total compensation resulting from a strengthened labor market. However, income growth perceptions and personal financial expectations both eased off of recent highs, consistent with Friday’s weak jobs report. Simultaneously, the share of consumers expecting to buy on their next move has declined. We believe the recent setback in consumer sentiment should be short lived if early signs of income growth bear out and occur in proportion to expected interest rate increases. Meanwhile, the wait for housing expansion continues.” For full report, go HERE.

Huntsville/Madison County residential sales in March increase 21% from prior year | AL.com.

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Spring Tour of Homes

Spring 15

Welcome to the Huntsville/Madison County Builders Association’s 29th annual Spring Tour of HomesSM. For those of you who attended for the first time we thank you, and hope to see you again.  For the thousands of you who attend year after year, we also thank you, and hope your experience this year was as good as years past. We are confident it was.

An array of housing types from single-family homes and patio homes to town homes will be featured in the TourSM with prices ranging from $199,900 to $1,250,000.  64 beautiful new homes will be on display throughout the Madison and Limestone County area offering a variety of life styles, floor plans and amenities.

Our local housing market continues to be strong overall. House values continue to increase, thereby, validating the fact that buying a home is the best long term investment you can make for you and your family. And with interest rates at all-time lows, the future of home ownership has never looked better.

Dates/Times for 2015

Saturday – Sunday;  from 1:00 – 5:00 pm

April 18 – 19, 2015

April 25 – 26, 2015

 Cost

There is no charge to view these homes.

 

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This Month in Real Estate April 2015

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Huntsville among top 10 Southern cities for jobs right now

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Lucy Berry | lberry@al.comBy Lucy Berry | lberry@al.com
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Two Alabama metros are among the top cities in the South for job creation and hiring in 2015, according to a new study by ZipRecruiter.

The hiring and job market data company released a report this week of the top 20 Southern cities with the greatest 2015 hiring demand and growth potential. Cities were ranked using ZipRecruiter’s Hiring Demand Index, which is based on relative monthly job growth percentage measured across the U.S.

Huntsville came in at No. 9, while Mobile fell at No. 19. Here is the full list:

  1. Tampa/St. Petersburg/Clearwater, Fla.
  2. Dallas/Fort Worth/Arlington, Texas
  3. Houston/Sugar Land/Baytown, Texas
  4. Richmond, Va.
  5. Jacksonville, Fla.
  6. Memphis, Tenn.
  7. Roanoke, Va.
  8. Greenville/Mauldin/Easley, S.C.
  9. Huntsville
  10. Orlando/Kissimmee, Fla.
  11. Cape Coral/Fort Myers, Fla.
  12. Durham, N.C.
  13. Greensboro/High Point, N.C.
  14. Winchester, Va.
  15. Spartanburg, S.C.
  16. El Paso, Texas
  17. Danville, Va.
  18. Lubbock, Texas
  19. Mobile
  20. Myrtle Beach/Conway/North Myrtle Beach, S.C.

Click here for ZipRecruiter’s report.

ZipRecruiter writer Kylie Anderson, who praised Huntsville’s military and aerospace technology, called the city “the center for NASA rocket-propulsion research.”

“The city also supports commercial technology companies and other engineering research,” she said.

Huntsville’s top five industries and their most in-demand position are:
  • Healthcare: Healthcare Representative
  • Trucking/Transportation: Class A CDL Driver
  • Engineering: Applications Engineer
  • Admin/Secretarial: Customer Service Retail
  • Manufacturing/Operations: Production Manager

Madison County’s February unemployment rate was 5.2 percent, down from 5.6 the previous month. Joblessness was also down in Mobile, from 7.1 percent unemployment to 6.4 in February. To see how your county fared, click here.

[Related: Top 10 Alabama occupations with the most online job postings in February]

Visit AL.com/jobs to search more than 2,000 listings in Alabama.

Huntsville, Mobile among top 20 Southern cities for jobs right now | AL.com.

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South Huntsville Park grand opening

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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.

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