Alabama residential sales in October continued to gradually improve, up 8.9 percent compared to the same period a year earlier. Through October, sales are up 10.6 percent year-over-year and sixty percent of local markets report positive sales growth compared to October 2012.
Tag Archives: Madison
Bad cell phone coverage won’t be an issue when hanging out in downtown Madison, now that it has free Wi-Fi access to the internet.
The city installed the Wi-Fi router this week atop Main Street Café and has wireless repeaters on light posts to relay the signal throughout the shopping district and adjacent park.
“Originally, the intent was to have Wi-Fi for special events downtown,” said District 3 Councilman D.J. Klein. “Then we thought, if it’s already set up for events, why not do it all the time.”
To access, you simply need to look for the “Madison_FreeWiFi” network on your wireless device’s menu of available networks and add it. It does not require a password.
Klein said bringing the Wi-Fi downtown was a collaborative effort among the city and downtown interests, particularly Cindy Sensenberger, owner of Main Street Café, for allowing the city to use her restaurant to locate equipment. He didn’t recall the cost for the Wi-Fi system but said it was so minimal it didn’t need council approval.
The signal bandwidth can be adjusted, he added, so it will be set a lower range during normal times and increased for big crowds during special events, such as the upcoming Madison Street Festival.
Jason Colee, director of Information Technology for the city, said crews will temporarily install two additional wireless nodes for the street festival to increase speed and then will move them to permanent homes on Main Street and Front Street.
The free Wi-Fi network arrived the same week that the city began advertising for bids to construct the second phase of downtown improvements. The $1.5 million Phase II calls for redirecting drainage away from Church Street, upgrading parking on Garner Street, burying utilities and replacing lighting. Work is expected to begin later this fall.
Huntsville/Madison County residential sales totaled 450 units for the month of September. Residential sales improved 12.8 percent compared to September 2012. Year-to-date sales through September are 10.8 percent ahead of 2012.
Supply: Huntsville housing inventory totaled 3,100 units, an increase of 108 units from last September leading to an increase in new home inventory of 3.6 percent. The inventory-to-sales ratio in September was 6.9 months of housing supply (4.9 months for new construction), a decrease of 8.1 percent from August September 2012. The market equilibrium (balance between supply and demand) is considered to be approximately 6-8 months during September. September inventory in Huntsville experienced a .1 percent (3 units) decrease when compared to the prior month. Historical data trends indicate September inventory on average (’08-’12) decreased from the month of August by .8 percent. While the market continues to establish definitive trend lines associated with the impact of sequestration, as it relates to housing demand, keeping an eye on levels of future supply will remain important for the market.
Demand: Existing single family home sales accounted for 74 percent (up from 68% in Sept’12) of total sales, new homes sales accounted for 23 percent (down from 28% in Sept’12) while condos were 3 percent of sales (down from 4% in Sept’12).
As expected, residential sales in September decreased by 18.5 percent from the prior month. Real estate sales volume is seasonal and historical Huntsville data reflects that September sales, on average (’08-’12), increase from the month of August by 10.0 percent.
Pricing: The Huntsville median selling price in September was $178,500, an increase of 9.8 percent from September 2012. This figure is also up 3.1 percent from last month. Historical data (’08-’12) indicates that the September median selling price traditionally decrease from the month of August by 1.9 percent. 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. Unlike prior years, a wild card this year is how the market continues to respond to sequestration.
They said it – Lawrence Yun, NAR chief economist: “The market may be experiencing a temporary peak (3rd quarter). Rising mortgage interest rates pushed more buyers to close deals (in August), but monthly sales are likely to be uneven in the months ahead.”
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 Commission, the 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.
For other 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, Alabama – Bob Jones and Grissom high schools have once again been ranked among the top in the nation by U.S. News & World Report.
Bob Jones High School ranked fifth in Alabama and No. 802 in the nation in the publication’s 2013 rankings, which were recently released nationwide. Grissom High ranked seventh in the state and 890th in the nation.
Loveless Academic Magnet Program, also known as LAMP, was the only Alabama high school to make it into the nation’s top 300 high schools. LAMP ranked seventh in the U.S.
The second best Alabama high school, according to the rankings, is Mountain Brook High School. Mountain Brook ranked 378th in the nation.
The top 10 Alabama high schools are:
1. Loveless Academic Magnet Program (LAMP) in Montgomery
2. Mountain Brook High School
3. Homewood High School
4. Auburn High School
5. Bob Jones
6. Ramsay High School in Birmingham
8. Brewbaker Technology Magnet High School in Montgomery
9. Booker T. Washington Magnet High School in Montgomery
10. Vestavia Hills High School
The rankings list the best high school in the nation as the School for the Talented and Gifted in Dallas, Texas.
Watch the video below to learn more about how the rankings were compiled.
ValleyMLS, the GPS-enabled app, allows consumers to find homes, rental properties, commercial properties and land for sale near by. The app gives users the ability to directly call the Realtor listing a property. Users can also save, favorite and share searches.
HAAR wanted to host a technology expo and launch the app because technology, social media and online real estate databases like Zillow have changed the market for Realtors, said HAAR CEO Kipp Cooper.
Mobile apps and online software have allowed Realtors to close transactions with military personnel overseas or people in other states, Cooper said.
Nobu Hata, director of digital engagement from the National Association of REALTORS, encouraged attendees of the expo to revamp their websites and share as much information as possible with buyers and sellers.
Google and online real estate data base websites like Zillow have made Realtors’ jobs harder because buyers and sellers can look up an abundance of information online, Hata said.
Realtors need to start providing that information on their websites because if they don’t, people will move on, Hata said.
“You’ve got literal rocket scientists moving here,” he said. “Do you think that they’re calling you? No.”
Hata also said that Realtors need to emphasize how they are different from websites like Zillow, which often have false or misleading information on them.
“Technology should make it easier for clients to reach you,” Hata said.