The Huntsville Area Association of Realtors has released their statistics for the month of September. The quick takeaway is that, as expected, the residential real estate market has decelerated from the fevered pace of 2020 and 2021.

Houses on the market in Huntsville/Madison County are now spending an average of 14 days on the market, up from 8 days in September of last year, and 11 days in August of this year. However, according to Realtor.com’s survey of the national real estate market, the average home in the United States spends 50 days on the market, demonstrating that, even with this slower pace, the Huntsville real estate scene is still quite hot compared to the rest of the country.

The inventory of homes on the market in Madison County is up, with 1496 homes listed, compared to 766 in September of last year.

The average cost of a home in Madison County is at $371,000, up from September of last year, but lower than this year’s peak average price of $391,000. The Huntsville real estate market retains its brisk pace, even as the average cost of a home remains below the national average, which hit $427,000 in September.

The Huntsville Business Journal is pleased to announce that, thanks to a partnership with ValleyMLS, Real Estate Update will now be able to report detailed, weekly statistics on the Huntsville real estate market, including such factors as pending sales, inventory and median price, and the housing affordability index.

When combined with monthly and yearly reports such as this, it is our goal to provide readers of the Huntsville Business Journal with the best information possible for navigating the real estate market.