2014 Market Continues Slowdown

As we identified and published in our 1st Quarter market update, 2014 is off with a slower sales pace when compared with 2013. The 2nd Quarter saw some improvement (-7% to -5%) but the slower pace continues.

Unit Home Sales Down 5% Year-To-Date

Single family home sales in Madison County dropped -5% to 2195 closings in 2014, compared to the 2312 transactions recorded during the same period of 2013. Since we are doing a quarterly analysis we aren’t the first market observers to report a slow start to the year: Huntsville Real Estate Off To Slow Spring Start.


Overall Market

While our Madison county statistics continue to indicate a local moderate slowdown, the picture across the entire MLS area is a bit better. A Year-To-Date transaction report on the entire MLS area this morning revealed a decrease of -1.5% in home sales as compared with 2013.

Inventory and Days-On-Market

Overall unit inventory for the period increased 2%, from an average of 3165 homes in 2013 to an average of 3221 units of inventory for 2014.  This slightly higher inventory along with the slower sales pace is clearly reflected in the chart below, where the months of supply has increased from 8 months in 2013 to a now 10 months of supply at the mid 2014 time-frame.

Days-On-Market also ticked higher by 11% indicating that it took longer to sell homes during the first half of year than in the previous year. Thus these inventories numbers are currently a trend in the wrong direction.


Huntsville Median Home Prices

On a bright point Huntsville median home price increased 1.2% from $163K in 2013 to $165k in 2014. However with relatively flat sales prices over the last 2 years, it is too early to draw any conclusions.

The Huntsville Home Price Trend on the other hand can be clearly seen in the chart below. Prior to 2012 median homes prices were trending approximately 4% higher than they have during 2012 – 2014. Thus there was a clear reduction in local home prices that occurred in 2012 and they have hovered in this lower price range for the last 2 1/5 years.


Overall Market Prognosis

While the start of 2014 came in with a whimper, the 2nd Quarter is showing promise. The ACRE forecast is predicting a relatively flat year for home sales in the Huntsville area, however we would have to sum it up truthfully as; The Jury is Still Out.

Stay tuned we are sure to keep you updated as the year progresses.

- Elizabeth


Bakers Farm

Thumbnail image for Bakers Farm by Elizabeth Cooper-Golden Huntsville Neighborhoods / Subdivisions
Bakers Farm NumOfListings: 8 PriceRange: $289900-$364900 SizeRange: 2801-4175 SqFt AvgBeds: 4 AvgBaths: 4.3 City: Madison, AL Courtesy of: Breland Homes, Llc Details Map Nearby Bakers Farm Madison Bakers Farm is a new Breland Homes subdivision in Madison Alabama. With some 50-60 lots designated for a new set of Signature Series floor plans. The neighborhood and [...]
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Huntsville AL Housing Market Slows

Thumbnail image for Huntsville AL Housing Market Slows by Elizabeth Cooper-Golden Huntsville Housing Market
2014 Market Off To Slow Start While one quarter does not a year make, it is hard not to look at the Huntsville real estate market statistics for the first quarter of 2014 without some hesitation and pause. Unit Home Sales Down 7% for the Quarter Single family home sales in Madison County dropped -7% [...]
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Take Your Business to the Next Level

Thumbnail image for Take Your Business to the Next Level by Tim Advertising
Market Like It's Luxury In the past, most home buyers often waited until they actually saw a property before ruling it out. Then the world changed! With the proliferation of the Internet and real estate websites, a person's first impression of a home is no longer at the front door, but on their computer screen. Your current [...]
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Whitesburg Estates

Thumbnail image for Whitesburg Estates by Elizabeth Cooper-Golden Huntsville Neighborhoods / Subdivisions
Whitesburg Estates NumOfListings: 11 PriceRange: $128900-$499900 SizeRange: 1574-4822 SqFt AvgBeds: 3.9 AvgBaths: 3.2 City: Huntsville, AL Courtesy of: Re/max Alliance Details Map Nearby Neighborhood Summary Whitesburg Estates is a well known and established neighborhood in Southeast Huntsville. However,don't be surprised to find a diverse set of homes and architectures, since the neighborhood has expanded in [...]
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Your Real Estate Website Audience

Thumbnail image for Your Real Estate Website Audience by Tim Advertising
To Advertise or Not Advertise When launching a personal business website one up-front decision, and likely one of the more important, is deciding whether to design in the capability to monetize your website with advertising. As with any design choice there are pros and cons to consider, and we will cover a few of them [...]
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Million Dollar Homes in Huntsville

Thumbnail image for Million Dollar Homes in Huntsville by Elizabeth Cooper-Golden Huntsville Neighborhoods / Subdivisions
Million Dollar Real Estate Certainly Huntsville Alabama is not known as a regional power house of million dollar real estate. For example, a quick snapshot of both Huntsville and Nashville Million Dollar Homes this morning revealed the local luxury market segment is quite diverse, with Huntsville coming in at ~2% of the market and Nashville at [...]
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Marketing vs Advertising
What’s the Difference?

Thumbnail image for Marketing vs Advertising <br /> What’s the Difference? by Tim Advertising
Confusing? - It's No Wonder Simply reading Webster's definition of the two terns, any individual will come away with some level of confusion. However it's just not that difficult to comprehend if you keep in mind the following:  Advertising - one component of marketing, to promote a particular product or service subset of your companies [...]
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I’m The Biggest, I’m The Best – Myth#7

by Elizabeth Cooper-Golden Huntsville Home Seller Tips
The Celebrity Agent No matter the town or city, every community across the nation has at least one celebrity real estate agent and likely more than one. Possibly they have been working in the industry for decades? Perhaps they began their career by investing large sums of time and money into high-value advertising?  Or maybe, [...]
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Decatur AL Buringtree Country Club

Thumbnail image for Decatur AL Buringtree Country Club by Tim Huntsville Neighborhoods / Subdivisions
The Neighborhoods / Subdivisions Although located within  Decatur city limits, Burningtree is really a community of its own and the home of several different neighborhoods spanning an array of different price ranges. Truly there is a home for everyone within the Burningtree Community: The Glens Burningtree Estates NumOfListings: 6 PriceRange: $175000-$239500 SizeRange: 2080-2800 SqFt AvgBeds: 3.8 AvgBaths: 2.8 [...]
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Happy Mothers Day

Thumbnail image for Happy Mothers Day by Elizabeth Cooper-Golden Huntsville Community Stuff
Mothers Day You know the old ‘aint always easy. All of the things I despised about my Mother as a child, are what I am most proud to have inherited as a Mother. My Mother taught me to love unconditionally, always give back and to always fight for the underdog. ALWAYS do the right [...]
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Bigger is Always Better – Myth#8

by Elizabeth Cooper-Golden Marketing - Advertising
Big Box vs Boutique Brokerages I have to admit, I am the perfect author for this topic. I was solidly in the big-box camp for many ...many years. I believed strongly that market-share simply brought more market-share and I personally wanted to work for a brokerage that led its local market in market share. I [...]
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Staying Safe In Alabama Tornado Weather

by Elizabeth Cooper-Golden Consumer Information

As a child, we lived in Topeka Kansas for a short period, in what was known as Tornado Alley.  I distinctly remember funnels dropping out of the clouds and taking out rooftops of  neighboring homes.  The weather would calm and the skies would become emblazon with green. When that happened, my Dad would always take [...]

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The data relating to Huntsville AL Real Estate on this Web site derive in part from the Valley MLS IDX datashare program. Listings marked with the ValleyMls logo are provided courtesy of the Huntsville Alabama Real Estate Information Service, Inc. (ValleyMls) IDX Database. © 2013 Valley MLS, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified.

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Huntsville, AL 35806

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