Huntsville Real Estate Market – Snapshot
The southeastern area of Huntsville is one of the more popular and unique areas of the city. It is characterized by lots of smaller neighborhoods with a wide assortment of homes in all price ranges. The area is serviced by 4 Middle Schools (Challenger, Huntsville, Mountain Gap, and Whitesburg) and 2 of the more popular High Schools in the region; Grissom and Huntsville High.
If you are home shopping in Southeast Huntsville this summer or early fall, it would be good to have a general feel for market conditions in your particular price range, prior to actually visiting neighborhoods and viewing specific Homes.
Feel free to browse some of the current listings with these custom home-searches targeting the 4 different Middle School areas of Southeast Huntsville at various price points:
- $100k-$200k Challenger, Huntsville, Mountain Gap, Whitesburg
- $200k-$300k Challenger, Huntsville, Mountain Gap, Whitesburg
- $300k-$400k Challenger, Huntsville, Mountain Gap, Whitesburg
- $400k-$500k Challenger, Huntsville, Mountain Gap, Whitesburg
- $500k-$800k Challenger, Huntsville, Whitesburg
- $800k – Up Huntsville, Mountain Gap, Whitesburg
Now that you have a feel for the homes currently available, review the following graphic to get an understanding of current market conditions across the various price ranges.The chart takes a snapshot of the seasonal demand and current inventory of homes. It also captures the absorption rate inventory and average price per square foot across these categories.
Note the variety of market conditions and especially the market bias in your particular price range. For example, if you are a buyer in the upper end price range you can expect some seller flexibility. With a 17 or more month supply of inventory these sellers are likely experiencing some longer than normal time on market.
|Southeast Huntsville Alabama – July 2008 Market Snapshot|
|$100k – $200K||24||113||4.71||$93||Seller|
|$200k – $300K||10||122||12.2||$100||Buyer|
|$300k – $400K||4||49||12.25||$103||Buyer|
|$400k – $500K||5||23||4.60||$112||Seller|
|$500k – $600K||1||12||12.00||$113||Buyer|
|$600k & $800k||1||17||17.00||$150||Buyer|
|$800k & Up||1||31||31.00||$214||Buyer|
If and when you find a few homes you really like and have put together a short list, be sure to have your REALTOR® perform a Comparative Market Analysis (CMA) on your properties of interest before finalizing any offer. By taking this more detailed look into specific neighborhood mini markets you may find that a neighborhood’s pricing model may vary either up or down from the average price across Southeast Huntsville provided in the chart above.Happy House Hunting – Elizabeth
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