Huntsville residential sales increased nearly 8 percent from April to May, according to the latest data from the Alabama Center for Real Estate.
The monthly report showed 719 units (485 existing family homes, 226 new construction and 8 condos) were sold in May, compared to 667 units in April, an increase of 7.8 percent.
“Historical data indicates that May residential sales on average (‘15-‘19) increase from April by 10.2 percent,” the ACRE report said. “(May’s) sales increased 7.8 percent from the prior month.”
However, the number is a decrease of 43 transactions when compared to the 762 units that were sold in May 2019, a drop of 5.6 percent.
In April, the average selling price was an all-time high of $279,833. In May, the average sales price in Huntsville for May was $271,954, a 2.8 percent drop from April but a 5.5 percent increase from one year ago.
“Historical data indicates that May average sales prices on average (‘15-‘19) increase by 4.6 percent from April,” the report said. “The current month’s average price decreased 2.8 percent from the prior month.”
The homes are on the market just 29 days, compared to 33 days in April and 54 in May 2019, and the local inventory of units available is 1,106 in May, compared to 1,186 in April. Huntsville residential units listed for sale in May decreased by 167 units when compared to the same period last year.
“Historical data indicates that May inventory on average (‘15-‘19) decreases 5.1 percent from April,” the report said. “The current month’s inventory decreased 7.1 percent from last month’s total of 1,186 homes.”