The heated housing sales market in Huntsville cooled off a notch last month, according to the latest report from the Alabama Center for Real Estate.

Meanwhile, the number of houses available continues to dwindle in this seller’s market, ACRE said in its monthly report.

Last month, there were just 461 houses on the market, compared to 504 in March.

“Historical data indicates that April inventory on average (2016-21) decreased 6.8% from March,” the report said. “(Last month’s) inventory decreased 8.5% from (March’s) total of 504 homes.”

The April report showed 740 houses were sold in the area in April, compared to 764 sold in March. Usually sales increase from March to April, ACRE said.

“Historical data indicates that April residential sales on average (2016-21) increase from March by 7.7%,” the report said. “This month’s sales decreased 3.1% from the prior month.”

The report did not attribute a reason for the decline.

However, the median and average sales prices increased, bucking the trend. The median sales price in Huntsville for
April was $283,045, a 4.1% increase from March’s median sales price of $271,825. The average sales price in Huntsville for April was $322,480, a 4.5% increase over March ($308,551) and a 15.2% increase from April 2020 ($279,833).

“Historical data indicates that April median sales prices on average decreased .6% from March. The current
month’s median price increased 4.1% from the previous month,” ACRE said.

April’s average price dramatically exceeded the usual increase, according to the report.

““Historical data indicates that April average sales prices on average increased by 1.7% from March,” ACRE said in the report. (April’s) average price increased 4.5% from the prior month.”

In some more good news for sellers, the average number of days on the market for April was 13 days, a decrease of five days from March. ACRE doesn’t see the trend changing any time soon.

“The 5-year (days on market) average for the month of April is 65 days,” ACRE said. “Average DOM is anticipated to remain within the current range (0 – 50 days) for the foreseeable future.”