Huntsville Home Sales continued at a slower pace in August 2010 with 250 reported closings within the Huntsville Metro Area. While up slightly over July’s performance, August 2010 sales numbers were down -14.7% when compared to the 293 transactions reported a year ago in August 2009 and continue the downward trend our local market has been experiencing over the last 4 years.
However looking at the chart below that illustrates sales within the Huntsville Housing Market over the last 3 1/2 years, the dark blue moving average appears to be flattening thus indicating the possibility of a bottoming market. Nonetheless what occurs over the next 6 months as we make our way through the seasonally slow period for the Real Estate Market will tell the real story.
As always it is beneficial to look at statistical numbers in a little more detail, thus the 2nd chart below breaks down this month’s Home Sales Figures across price ranges for a more detailed look at this months performance.
It is interesting to note that while Home Sales were down in almost every price range, the upper end of the market (Homes priced $350k and above) bucked this month’s trend and actually were dramatically higher than Aug of 2009 and accounted for 15.2% of all sales for the month. Whether this trend will continue we do not know but it is likely an aberration of one months result. Either way, stay tuned right here on these pages as the story continues to develop.