How is the market fairing in Huntsville Al?  We are just getting our July stats in to see how July looks up against June for 2023.

With Interest rates being at a 22 year high I know everybody is anxious to hear how the market is shaping up. There are some ups and some downs.  If you are a seller in the market it is still good news.  Actually inventory in Huntsville is still very challenging.  We had a decrease in inventory for July of 10.1% for new listings coming on the market.  That could be partly a reflection of the fact that we did have a slight increase in sales.

Sold properties for July were at 248 sales, that is an increase over the previous month of 1.2%.  The median sales price is still headed upward, with an increase of 0.8% for July vs June.  Median sales price is now $322,450.  In July of 2022 the median price was $323,000, so not a lot of over all change.

The big change here!!  Here is the big change we are seeing, the number 91. 91 is the new number for average days on the market you can expect to see.  That is an increase of 5.81%.  When you look back a year ago the average days on the market was just 4 days. Now that is a big change in the market.  91 days is still considered a pretty quick and normal market time year over year.

With all that being said, Huntsville Alabama still has a very strong real estate market.  Even with the turbulent rates we still have buyers.  Buyers still see plenty of value in the Huntsville Alabama market as we continue to grow and bring many high paying jobs to our beautiful city.

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