Tag Archives: Madison

Huntsville/Madison County residential median sales price in June improves 10% from prior year

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

Huntsville/Madison County area residential sales in June slipped 1.7 percent from the same period a year earlier. Year-to-date sales are virtually the same as 2013 (-1.0%) through the month of June. Total sales of 507 units were 15 units or 2.7 percent shy of our monthly forecast.

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View full sizeHuntsville/Madison County residential sales slip 1.7% from last June. Inventory has decreased 2.2% from the month of June peak in 2010. Infograph provided by ACRE. All rights reserved.

Supply: Huntsville housing inventory totaled 3,259 units, an increase of 142 units from last June and 5.3 percent above the 5-year June average of 3,095 units. New home inventory is down 9.1 percent year-over-year while existing single family is up 6.9 percent. The inventory-to-sales ratio in June was 6.4 months of housing supply (3.9 months for new construction – down from 4.2 months in May 2013). The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during June. Huntsville remains one of Alabama’s most balanced markets in 2014. June inventory in Huntsville/Madison County experienced a 2.5 percent (79 units) increase when compared to the prior month. This movement contrast with seasonal & historical data trends that indicate June inventory on average (€™09-€™13) remained unchanged from the month of May.

Demand: New home sales improved 5.3 percent from last June after a weak May but a strong sales surge in April. New home sales spur economic growth and job creation so this is encouraging news. Existing single family home sales accounted for 73 percent (down from 74% in June’13) of total sales, new homes sales accounted for 14 percent (up from 12% in June’13) while condos were 3 percent of sales (down from 4% in June’13).

Residential sales in June improved 10.7 percent from the prior month. Real estate sales volume is seasonal and historical Huntsville data reflects that June sales, on average (€™09-€™13), increase from the month of May by 6.1 percent.

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View full sizeHuntsville/Madison County residential median sales prices rises 10% from last June. Infograph provided by ACRE. All rights reserved.

Pricing: The Huntsville median sales price in June was $184,900, an increase of 10.1 percent from June 2013 and 10.7 percent from the prior month. Historical data (09-13) indicates that the June median selling price traditionally increases from the month of May by 3.0 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: According to Fannie Mae’s June National Housing Survey: Americans’ Attitudes Toward the Housing Market Reflect Steady but Slow Recovery, “Normal” Housing Levels Still a Ways Off. Click HERE for report.

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 median sales price in June improves 10% from prior year | AL.com.

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National survey puts Huntsville at top of the list for employee engagement

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 Huntsville is best known for rockets, military and an abundance of engineers. A new survey shows it is also a place filled with some pretty happy workers.

A new survey by Quantum Workplace has Huntsville ranked as the top in the country for employee recognition. The company looked at surveys from nearly 5,000 organizations and 400,000 employees that take part in the Best Places to Work program to determine where employees were most satisfied with the recognition they receive.

That sort of recognition includes things such as pay increases, access to new learning or training, time off or praise from senior leadership.

Seventy-three percent workers polled in Huntsville said they were satisfied with the amount of recognition they receive.

The remainder of the top 10 are:

   No. 2 - Nashville, Tennessee

   Percent of Satisfied Employees: 69 percent

   No. 3 - Austin, Texas

   Percent of Satisfied Employees: 68 percent

   No. 4 - San Antonio, Texas

   Percent of Satisfied Employees: 68 percent

   No. 5 - Washington, D.C.

   Percent of Satisfied Employees: 68 percent

   No. 6 - Atlanta, Georgia

   Percent of Satisfied Employees: 67 percent

   No. 7 - Charlotte, North Carolina

   Percent of Satisfied Employees: 67 percent

   No. 8 - Orlando, Florida

   Percent of Satisfied Employees: 67 percent

   No. 9 - Raleigh, North Carolina

   Percent of Satisfied Employees: 67 percent

   No. 10 - Tampa, Florida

   Percent of Satisfied Employees: 67 percent

Overall, employees said pay raises were the best way to recognize work. That was followed by training opportunities, time flexibility, bonuses and promotions.

Managers should skip plaques or other company-branded merchandise, however. Those were rated least desirable among employees, with less than 5 percent saying those were important to them.

via Lots of happy engineers? National survey puts Huntsville at top of the list for employee engagement | AL.com.

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$20 million renovation of Bob Jones High School under way in Madison

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School is over for the year, and work on a thorough renovation of Bob Jones High School has kicked into high gear.

The renovation is the largest in the history of Bob Jones’ current campus, Madison City Schools Superintendent Dee Fowler said on Tuesday. The high school has been at its current location on Hughes Road since 1996. Prior to that, it was housed on the nearby Discovery Middle School campus.

A wing was added onto the school in the early 2000s to keep pace with Madison’s growth, and the cafeteria was expanded in 2007.

“That’s baby stuff compared to what we’re doing now,” Fowler said.

Frank Nola, the architect who designed the school’s new look, said almost no part of the campus goes untouched in the plan. First up are changes to the school’s entrance and administrative offices, which were moved to a temporary location about a month ago so the initial work could begin.

The lobby at the school’s entrance will be the only portion of the building that members of the public can enter without either keycard access or being allowed in by staff in the front office. Nola described it as a “welcome center.”

Beyond the front office, the school’s media center will be much more digitally-focused than it currently is. “Right now, it’s a very book-oriented space,” Nola said.

A large hallway, or concourse area, will provide students better access through the school and eliminate the “circulation bottlenecks” the current layout causes, Nola said. The concourse will have seating, and a coffee bar, that students can use to relax and collaborate with one another.

Fowler described the effort as a “marrying” of the library with the cafeteria.

The cafeteria will also be renovated to rid it of its “institutional” feel and make it more like a food court, where students will have more food options during lunch, Nola said.

The school’s gymnasium will be reconfigured, reducing the size of the mezzanines and making it more of a competitive-style gym. The concession area will be more user-friendly, Nola said, and the new design will reduce foot traffic on the gym floor.

The practice gym will get new floors and bleachers, and the outdoor track will be completely refinished with polymer, which will last longer than the rubber currently in place.

The school’s entire HVAC system is also being replaced, as is its lighting system. Fluorescent lights will be replaced with LED lights, which will add up to cost savings for the district.

The facility’s data network, including its wireless network, will also be substantially increased, Fowler said.

“We’re moving away from a stationary computer lab and more toward a model in which every classroom can become a computer lab,” Fowler said. “A large part of this renovation is to make sure the network supports the district’s ‘Bring Your Own Device’ policy for today, and for the future.”

Also in the plan are 70-inch touchscreen panels in each classroom to aid in digital teaching.

“It’s basically like an iPad, but for the wall, and more technologically advanced,” said Bob Jones principal Robby Parker.

The renovation of the administrative offices are expected to be finished by the beginning of the new school year, Nola said. The media center and the concourse will be completed in December.

The entire project is slated to be finished by July 2015.

Nola said that the most disruptive work will be done over the summers to minimize the disturbances to students’ instructional.

Parker said classes would be affected as little as possible.

“Instructional programs will not be affected,” Parker said. “And the inconvenience is a one on a scale from one to 10 when compared to the excitement, which is a 10. We’re really excited to get the finished product.”

$20 million renovation of Bob Jones High School under way in Madison | AL.com.

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Come see the new Heritage Brook model home this weekend!

'14 Spring Tour

Come see the new Heritage Brook, by Legacy Homes, model home during this year’s Spring Tour of Homes this weekend. Heritage Brook is located one mile north of Hwy 72 on Old Railroad Bed Road in Madison. We’ll be open from 12-5 on Saturday and Sunday. We’re giving away some great prizes including an iPad Air. In addition to the new model home we also have three other floor plans in different phases on construction ready for you to explore!

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Huntsville/Madison County February home sales up 6% from prior month

Huntsville/Madison County area residential sales in February improved 6.1 percent from the prior month. In contrast, sales totaling 333 units, represented a slip in sales growth of 11.4 percent from the same period a year earlier and 16 units shy of ourmonthly forecast.

Click here to view or print the entire January report compliments of the ACRE Corporate Cabinet.
Historical Sales.jpg
View full sizeHuntsville/Madison County residential sales up 6% from prior month. Inventory is 6% below February 2011 peak. Infograph provided by ACRE. All rights reserved.

Supply: Huntsville housing inventory totaled 2,880 units, an increase of 68 units from last February. New home inventory is down 2.2 percent year-over-year while existing single family is up 4.1 percent. The inventory-to-sales ratio in February was 8.6 months of housing supply (5.5 months for new construction – down from 6.3 in January). The market equilibrium (balance between supply and demand) is considered to be approximately 8 months during February. Huntsville and Baldwin County were Alabama’s most balanced markets in 2013. February inventory in Huntsville experienced a 2.0 percent (57 units) increase when compared to the prior month. This movement is consistent with historical data trends that indicate February inventory on average (€™09-€™13) increases from the month of January by 1.7 percent.

Demand: Existing single family home sales accounted for 71 percent (up from 64% in Feb’13) of total sales, new homes sales accounted for 25 percent (down from 34% in Feb’13) while condos were 4 percent of sales (up from 2% in Feb’13).

Residential sales in February improved by 6.1 percent from the prior month. Real estate sales volume is seasonal and historical Huntsville data reflects that February sales, on average (€™09-€™13), increase from the month of January by 13.5 percent.

Pricing: The Huntsville median selling price in February was $156,400, a slip of 6.5 percent from February 2013. In contrast, the median price increased by 1.3 percent from last month. Historical data (09-13) indicates that the February median selling price traditionally decreases from the month of January by 2.2 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.

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 improve 6% from prior month | AL.com.

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