Our local Huntsville Real Estate market does have some pent-up inventory as we head into the traditional Spring/Summer home selling season.Even though Huntsville is weathering the current national housing environment very well, local buyers are still more cautious about what they buy because they are aware of the more widespread market weakness and they know that in a worse case the property they buy now may stagnate or even drop in value before it starts appreciating. Thus they are buying for the long term and are less prone to make compromises.
For sellers in a high inventory market niche it’s about pricing your home correctly. One of the most difficult of realities for a home seller to face is that their home may not of appreciated over the last few years or that prices in their particular neighborhood have recently declined. If you are in this segment of the market and have the luxury of waiting for market conditions to improve, then stay put for now. At the moment buyers are extremely price conscience. If there is a lot of inventory to choose from, price will certainly become a factor and the fact remains that a price that is too high for a particular market niche will not bring the desired result.
On the other hand if you’re contemplating moving up (both a seller and buyer), then this is an ideal time to be active in the Huntsville Real Estate market. Generally, moving up involves selling a lower priced home and purchasing a larger higher priced one and things couldn’t be better for this situation. In the lower price ranges our local market inventory is still moderately low, prices appreciating, and demand strong. It is very possible that your situation could be placing you in a seller’s market at the lower price range and a buyer’s market in the move up purchase. A sell high buy low situation is the best one could hope for.
In any case it is important to consult with a knowledgeable real estate professional, one who knows the local market conditions well. If you’re in the market as a buyer or seller, as always we would welcome the opportunity to assist you in your analysis and decision making process.