Huntsville housing increasingly a seller’s market

Huntsville housing increasingly a seller’s market

HUNTSVILLE, Ala. (WAFF) - It’s a market that never sleeps, even for Labor Day.

Monday, open houses were available across the metro area. Potential buyers were stopping by to see their options.

Realtor Bill Stewart said if they like what they see, they need to act on it.

“They try to negotiate, and they learn quickly, if they like it, they better put an offer in,” he said.

He said he’s been in the housing business for 20 years, and this is the fastest turnover rate he’s ever seen.

“Consequences are there’s no houses. Okay? So if you’re a buyer you’ve got to prepare early,” Stewart said.

Local realtor data shows the number of available homes are down 18.6 percent in Huntsville and 25.6 percent in Madison since last year.

The number of days on the market is also speeding up, with Huntsville’s listing time now 13 days shorter (from 47 to 34).

Realtor Ainsley Runels says that has buyers opening their wallets.

“Cash is of course king, but a lot of the buyers are now placing offers that are over full price,” she said.

Both realtors said establishing good credit, coming with cash and doing your homework are all musts to compete for your home of choice.

Stewart said putting a personal touch on your offer doesn’t hurt either.

“I’ve had letters from the family that is moving in, so they try to make it an emotional issue. Sometimes it works, sometimes maybe not,” he said.

So when you’re looking for your future home do your homework and play to win.

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