Huntsville/Madison County Residential Real Estate Sales report for 2012



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We here at Amanda Howard Real Estate wanted to provide to you a combination of the research and facts we have interpreted from our local Huntsville Area Association of Realtors (HAAR) listing service along with the research printed by Alabama Center for Real Estate (ACRE) with our review of the Huntsville/Madison County sales for 2012.  This combination should prove to be a very insightful resource for your review.
Huntsville/Madison County residential sales reached 4,776 units in 2012. There were 504 more housing units sold compared to the prior year.  This 11.8 percent improvement is definitely a gold star for our community.    As far as how we stacked up in the state, we trailed only slightly behind Montgomery, who won out as Alabama's top metro market with a sales growth of 12.1 percent in 2012.

Huntsville/Madison County would consider the firm Amanda Howard Real Estate, the platinum star, as this elite team closed 304 homes with only 9 agents. This yielded a 22% growth in revenue in 2012 for Amanda Howard Real Estate over all.   The city of Huntsville could not be prouder seeing this company bring a 35% growth in business revenue from 2011, accounting for $59 million dollars of sales production for the city of Huntsville and state of Alabama.

According to the inventory statistics from HAAR, the Huntsville/Madison County housing inventory totaled 2,883 single family homes, a decrease of 5 percent from last December. The inventory-to-sales ratio in December stood at 8.4 months of housing supply, this reflects a slight decrease from 8.8 months in December 2011. This figure still represents the best inventory balance between supply & demand in Alabama.  This direction is consistent with historical data trends that indicates December inventory on average (’07-’11) traditionally decreases from the month of November by 6.4 percent.

Alabama Center for Real Estate reported Existing single family home sales accounted for 65 percent (compared to 61% in Dec'11) of total sales, new homes sales accounted for 33 percent (down from 35% in Dec'11) while condos were 2 percent of sales (down from 4% in Dec'11).

Residential sales in December increased by 2 homes only from the same period in 2011, from 338 to 340.
Amanda Howard Real Estate reported from the data compiled from the Huntsville area MLS that the Greater Huntsville/Madison County median selling price in December was $178,000, an increase of 5.5 percent from last December.  ACRE reported that Real estate sales are seasonal and the sales pace slows during the winter quarters resulting in a higher degree of statistical volatility. With that said, through November seventy-six percent (19 of 25) of the local housing markets across the State have experienced year-to-date sales growth from 2011 and that is welcome news for Alabama consumers as well our state's real estate community. As for the latest economic forecast entering the new year, according to Global Insight's most recent short-term outlook, "The economy still has only weak forward momentum. We expect growth in the 1.5–2.0% range in the fourth quarter. Some underlying fundamentals are improving—most importantly, housing. We expect that the fog of uncertainty (US fiscal policy) will gradually clear during 2013, setting the stage for a broad-based improvement in economic growth in 2014."

Should you have any questions regarding this report, your own homes values or your surrounding neighborhood values, as all are very specific, please contact info@amandahoward.com to request more information.

All facts and figures provided by Amanda Howard Real Estate reported directly from the facts provided in the HAAR MLS and is subject to change based on the live system changes.  The ACRE monthly report is provided to illustrate the "general" market direction & trends when comparing prior periods with the most current available data. The Huntsville Residential Monthly Report is work product developed in conjunction with the Huntsville Area Association of REALTORS to better serve North Alabama consumers.

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