Huntsville Real Estate Market Showing Signs of Improvement and Progress

Watch on your mobile device >>

Happy Thanksgiving week! As we all prepare to enjoy some much needed family time and scrumptious food, I thought I would share some very important numbers related to our current real estate market. These numbers were just released by the Huntsville Area Association of Realtors, and they give us some great insight into how the market is doing when comparing October 2010 with October 2011. I have prepared a FULL report for you right here on our blog!

October homes sales declined by 22% when compared last month, but rose by nearly 7% when compared to one year earlier. That is a great sign that our market is picking up steam.

At $165,728, the October median home price declined by 2.5 % from the month previous and declined by 5.3% from October last year. We have to remember that homes that were in foreclosure are moving out of the marketplace, so this is bound to bring down the median home prices for awhile.

The number of Active homes on the market in October 2011 decreased by 8% compared to October 2010 but ONLY 2% from the month previous. Our months of inventory actually went down from about 12 months worth to about 8 months worth over the last 12 months.

The October 2011 Average Days on Market (DOM) rose very minimally when looking at month previous (Sept.) and increased by 27 days from a year ago to 116 days.
Some of these numbers are to be expected during the holiday season, so we are very encouraged at the upward trend in many areas.

Tips for the Upcoming Holiday Season

We are always so thankful for the work that our first responders do in this community.  That's why we've chosen to support the Huntsville Police Department by starting the first ever anonymous texting tip line for our local Crime Stoppers.  This service will allow anyone who has a tip to share involved in solving a crime to anonymously text it using special technology that has been ordered.  It will scrub the number to keep the person anonymous so that more people are willing to report crimes.
We were approached by the Huntsville Police Department to be the sponsor of this new technology, and we were thrilled to be involved.  We care about and love this community, so we want to do anything and everything that we can to encourage a safe place for our local families.  Being able to support such an innovative technology is thrilling for our company.  We will let you know when the service will be starting, but we also asked Huntsville police to give us a safety tip for the holiday season.
The safety tip that they gave us was to beware of having deliveries at your home during the holiday season.  They suggest that you go ahead and have your packages delivered to your place of work whenever possible.  Unfortunately, criminals are watching delivery people ring your doorbell, drop off your package and then leave for the next delivery while your special items may be sitting outside..  They wait to see if someone comes to the door, and if they don't, they steal your package for themselves.  To play it safe, make sure to have your packages sent to your place of work.
We'll continue offering more safety tips throughout the holiday season, so keep an eye on our blog!
Again, we want to thank all of the men and women who are working to keep us safe including our military and first responders here in Huntsville and Madison counties.  Have a happy Thanksgiving!

No comments:

Post a Comment