The Huntsville Area Association of Realtors (HAAR) has released its monthly report on the state of the residential real estate market for the month of March.

The average sale price in Madison County continued to rise, reaching $368,000, up from $333,000 for March the previous year.

However, this is an outlier for Huntsville/Madison County specifically, as the combined market average among North Alabama counties – Madison, Morgan, Lawrence, Limestone, Dekalb, Etowah, Cherokee, Jackson, and Marshall counties – has actually decreased, down to $320,000 from $322,000 the previous year.

While the market has slowed – the average time on market for a house in Madison County is up to 35 days from 9 the March previous – houses are still selling faster than the North Alabama combined average of 41, up from 17 in 2022.

The number of homes on the market has almost tripled over the past year, up to 1393 from 513.

Sales still remained sluggish relative to 2022, with Madison County sales down to 651 from 785. With a larger selection of available homes to choose from, however, April is a good time for would-be buyers to shop around to choose the perfect fit for their needs.

Keep reading the Huntsville Business Journal for more developments in the real estate market as they occur.