Important Year To Date Market Update



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What’s happened since we reached you last…

We’re all excited here from the amazing and well written article on the front page of the Business section a week ago last Friday!

We supported the Liz Hurley run last weekend and now we are excited and moving forward to next month with the Jingle bell Run for arthritis. If you would like to join our Team or feel compelled to contribute to this very important cause we would absolutely love it!

After a slower September (thank you very much Washington DC, Wall Street, etc. for all the chaos you helped create in Sept), October is proving to be a very strong month with lots of activity in the $150k to $280k price ranges. I'm not sure if the market in the Northeast (NJ, NY, VA etc.) has improved but we are fielding more calls from folks who have "finally sold their home" in the Northeast and want to take advantage of the crazy low interest rates (sub 4 %) and the great values in our area before both go away.

The top three locations of the most home purchases surprised us with Harvest/Monrovia area leading, then Madison city coming in at a close second, and then Huntsville city South coming in as the area seeing the 3rd most sales in September.

AREA                     Sept. 2011
# of SALES
HE (Huntsville East)
19
HM (Harvest/Monrovia)
69
HN (Huntsville North)
34
HS (Huntsville South)
60
J1 (SCOTTSBORO)
13
M1 (GUNTERSVILLE CITY)
9
M2 (ARAB CITY)
6
M3 (ALBERTVILLE CITY)
7
MC (Madison City Limits)
67
MCV (Mountain Cove)
43
MD (Mill District)
6
MNE (Madison County NE)
21
MNW (Madison County NW)
30
NHX (New Hope/Owens Cross Roads)
10
NMR (New Market/Riverton)
26
RPA (Research Park Area)
13
WH (Wheeler Area)
26
6L (LIMESTONE CO)
49
L1 (ATHENS CITY)
21

September Home Sales Remain Strong
Inventory Holds Steady

Homes Sales climbed 25.07 percent when compared to one year earlier and remain unchanged from August according to new data prepared by the Huntsville Area Association of REALTORS® (HAAR).

At $170,000 the September 2011 single-family home median price – the figure at which half of the homes sold for more and half sold for less – rose by 3.84 percent from August 2011 and slipped by 8.82 percent from September 2010.
"While we traditionally see a slowdown in homes sales in the fall, sales remained virtually unchanged.  We also saw a rise in the median home price for the month of September compared to August which is also counter to traditional housing trends," said Oscar Gonzales, HAAR CEO.


Available Properties
The number of available properties (active listings) in September 2011 also remained virtually unchanged compared to August 2011 and decreased by 10.22 percent compared to September 2010.
The Huntsville Madison County area month’s inventory of single-family homes for September 2011 came in at 8.06 months compared to the national month’s inventory of single-family homes, which was approximately 8.5 months in August 2011 according to the National Association of REALTORS® (NAR).
Days on Market

The September 2011 Average Days on Market (DOM) rose by 20 days to 108 compared to Augusts 2011 88 days and increased by 13 days from September 2010.


CATEGORIES
September
2010
September
2011
August
2011
PERCENT CHANGE
Total property sales
339
424
422
0.47%
Average single-family sales price
$209,517
$196,834
$186,374
5.61%
Median single-family sales price
$185,000
$170,000
$163,711
3.84%
Total active listings
3,434
3,083
3,071
0.39%
Average Days on Market
95
108
88
22.73%
Months inventory*
8.69
8.06
8.85
-8.93%
Month’s inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.


PRICE DISTRIBUTION
Price Range:
# of Total Sales:
AVG DOM
# of Current Active Listings
$99,999 OR UNDER
71
120
512
$100,000 - $124,999
50
117
210
$125,000 - $149,999
52
76
375
$150,000 - $199,999
82
93
606
$200,000 - $249,999
60
91
383
$250,000 - $299,999
37
67
368
$300,000 - $349,999
30
62
148
$350,000 - $399,999
20
111
122
$400,000 - $449,999
8
263
75
$450,000 - $499,999
6
87
61
$500,000 - $549,999
2
26
41
$550,000 - $599,999
2
182
42
$600,000 - $649,999
                 0
10
$650,000 - $699,999
1
151
22
$700,000 - $749,999
1
323
11
$750,000 - $799,999
                 0
19
$800,000 OR OVER
2
274
78






Month’s inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.


Real Estate Milestones in September

Homes Sales climbed 25.07 percent when compared to one year earlier and remain unchanged from August 2011.

At $170,000 the September 2011 single-family home median price rose by 3.84 percent from August 2011.

The number of available properties (active listings) in September 2011 remained virtually unchanged compared to August 2011.

The September 2011 Average Days on Market (DOM) rose by 20 days to 108 compared to Augusts 88 days.

~~~~~

The computerized Multiple Listing Service, the North Alabama Multiple Listing Service (NALMLS) a subsidiary of the Huntsville Area Association of REALTORS® includes residential properties and new homes listed by 2,700 Realtors in North Alabama. Residential listing information for more than 3,000 properties may be found on the Internet at http://www.valleymls.com

The information published and disseminated to the North Alabama Multiple Listing Service (NALMLS) is communicated verbatim, without change as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported include a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures.

Founded in 1948, the Huntsville Area Association of REALTORS® (HAAR) is a 2,000 member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling.





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