Reports from the month of December have shown that the residential real estate market has been stronger than most winter seasons, with the local market here in Huntsville/Madison County a bit more brisk than the national norm.

According to reports from the Huntsville Area Association of Realtors (HAAR), there were 622 homes sold in December 2024, up from 524 the previous year. There were 2,347 houses on the market, compared to 1,811 in December 2023.

The average days on market increased to 59 days, up from 39 the previous year.

The average sales price of a home in Madison County was $378K, a minor decrease from December the previous year, where the average price was $382K.

The months’ supply of single-family homes in Madison County reached 3.6, a 12.5% increase from the previous year.

The housing affordability index for single-family units reached 95 in December — which is to say that the median household income was only 95% of what is necessary to qualify for the median-priced home under current interest rates. Townhouse/condo units were more affordable, with the housing affordability index for those units reaching 115 — in other words, the median income is 115% of what is needed to qualify for the median-priced home.

The percentage of list price received remained stable in the month of December, with single-family units listed receiving 97.6% of the list price, and townhouse units receiving 97.7%, both figures remaining nearly flat year-over-year.

On the national scale, the December monthly report from the National Association of Realtors (NAR) shows that winter sales have been picking up, despite the generally-slow annual statistics for 2024 as a whole.

Existing-home sales — the consolidated figure for single-family units, townhouses, condos, and co-op units — increased by 2.2% over the month of December, a 9.3% year-over-year increase. However, even with this uptick in the last month of 2024, the year as a whole still showed the lowest national existing-home sales figures since 1995.

At the same time, the NAR reports that the median price of existing-home sales reached $407,500, a record high.

“Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,” said NAR Chief Economist Lawrence Yun. “Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months.”

Yun went on to attribute growing consumer confidence to rising wages and increased inventory.

In a statement to Realtor.com, Realtor.com Chief Economist Danielle Hale stated that “The strength of the December uptick will be tested in the months ahead, but does open the possibility that the bottom in existing-home sales is truly in the rearview mirror.”

The NAR also reports strong sales in the South, citing a monthly 3.2% increase in existing-home sales in December, which is a 9.0% year-over-year increase compared to December of the prior year.

The Spring 2025 season is shaping up to be interesting, as we see how this uptick might carry into the more traditionally-active months, and what effects Trump administration policies like tariffs, tax cuts, or deportations may have on the market.

The Huntsville Business Journal will continue to monitor developments in the real estate market, both here and on the national scale.