Huntsville Real Estate Market – Snapshot
From the heart of the medical district taking Governors Drive (Hwy 431) east, up and over Monte Sano, takes you to a lovely set of neighborhoods nestled in a valley surrounded by the foot hills of the Appalachian Mountains. This area of the City is serviced by 2 Middle Schools (Huntsville, Hampton Cove) and Huntsville High School and is also known for its internal recreational facilities including an outstanding set of Robert Trent Jones Golf Trail courses as well as its close proximity to Lake Guntersville a half hour to the south.
If you are investigating homes for sale in East 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 some of the neighborhoods you are likely to encounter at various price points:
- $100k-$200k Carrignton, Eastern Shore, Springfield
- $200k-$300k Hampton Station, Magnolia Park, South Hampton
- $300k-$400k Cobblestone Cove, Hampton Ridge, Southgate
- $400k-$500k Hampton Ridge, Tammerack Lakes, Clearwater
- $500k-$700k Cumberland Cove, Tammerack Links, Treyburne
- $800k – Up MacMullen Cove, Grande Highlands
Now that you have a feel for the homes currently available, you can review the following graphic to get an understanding of current real estate 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 9 or more month supply of inventory these sellers are likely experiencing some longer than normal time on market.
|East Huntsville Alabama – July 2008 Market Snapshot|
|$100k – $200K||8||32||4.00||$104||Seller|
|$200k – $300K||13||100||7.69||$102||Buyer|
|$300k – $400K||7||50||7.14||$108||Buyer|
|$400k – $500K||10||40||4.00||$117||Seller|
|$500k – $700K||3||28||9.33||$144||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 East Huntsville provided in the chart above.Happy House Hunting – Elizabeth
Homes For Sale in Southwest Huntsville
Homes For Sale in Southeast Huntsville
Homes For Sale in Madison
Homes For Sale Outside Madison City Limits
Homes For Sale in East Limestone County
Homes For Sale in Northeast Huntsville / Madison County