Huntsville Area Association Relators: available homes increasing for first time in 10 years
HUNTSVILLE, Ala. (WAFF) -We know North Alabama is thriving.
Huntsville is the largest city in Alabama, meaning more and more people are moving to the area, looking for that perfect home.
If you’re looking to buy or sell a home, we talked with real estate agents to get their predictions for the new year.
“If current conditions remain, we see a strong market moving ahead.”
The real estate market in North Alabama doesn’t appear to be slowing down anytime soon, but we’re told the amount of available homes has increased for the first time in a decade.
That’s according to the CEO of Huntsville Area Association of Realtors. It’s evident in all the new developments popping up and more people listing their homes.
“We can’t predict the future, or give like a forecast, we’re really optimistic that we’ll see the market really at the beginning of next year have more options for those home buyers, especially focusing in on those first time home buyers, those folks relocating to the area will have plenty of options,” Josh McFall, CEO of Huntsville Area Association Relators said.
Let’s take a look back on the housing market in 2021. This year, about 15,850 homes sold across the Tennessee Valley.
That includes Limestone, Dekalb, Madison, Jackson, Marshall, Morgan & Lawrence Counties.
More than half of those homes were from Madison County.
In 2020, 16,975 homes were sold in North Alabama.
In Athens Limestone, the average sale price in 2021 was $340,000. There are currently 179 homes on the market, compared to 250 homes on the market this time in 2020.
In Dekalb County, the average price is $214,000. There are 81 homes on market, compared to 94 homes on market in 2020.
Jackson County has an average home price of $228,000. There are 76 homes on market, compared to 68 homes in 2020.
In Marshall County, the average price is $250,000 and there are 156 homes on the market, compared to 193 homes in 2020.
For Morgan and Lawrence counties combined, the average home price is going for $238,000. There are 174 homes on market, compared to 199 in 2020.
McFall says these trends show, the new year will start off strong.
“First quarter of 2022, out of the gate it will continue to be just as fast-paced as we’ve seen before, but we’re seeing a slow increase of inventory, which is helping to ease some of that burden.”
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