ACRE Reports Huntsville Home Inventories Remain Low, Sales Increase

 

Alabama Center for Real Estate pic
Alabama Center for Real Estate
Image: acre.culverhouse.ua.edu

Monica Schroeder, SCS, manages originations and transactions of manufactured and multifamily home community loans in her position as vice president at Capital One in Birmingham, Alabama. In addition to her work at Capital One, Monica Schroeder, SCS, maintains memberships with a number of local real estate organizations, including the Alabama Center for Real Estate.

The Alabama Center for Real Estate (ACRE) at the University of Alabama maintains a depth of real estate industry educational resources and outreach initiatives. The organization recently reported that residential property sales in the Huntsville, Alabama, region had increased by 10.5 percent in August compared to the same time last year, with sales increasing from 675 units in 2017 to 746 units in 2018. The figures reflected more than a single year-to-year increase, but rather the continuation of a trend. The 745 sales represented a significant 31.1 percent increase over the 569 sales average observed over the last five years.

Sales increased from 2017 despite a 24.6 percent decrease in properties up for sale. The median sales price of $193,500 fell 0.8 percent from August 2017, and 11.2 percent from the preceding month. As inventory levels remain low, real estate professionals in the area expect to see available homes to continue selling at an above average rate.

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