Huntsville Area Real Estate Economic Update - 2nd Quarter 2019
Madison County continues to see record levels of home sales and, with it, the challenge of low inventory. Pending sales at the end of the 2nd Quarter 2019 were 763, more than double the level at the end of the 2nd Quarter 2018.
Average and Median Sales Prices continued to rise, while the number of homes listed for sale remained low. The median sales price in Madison County reached $208,333--an 8.8% increase from the 1st Quarter 2018. The five-year average sales price grew by 5.8% in the past year.
Demand for housing in the Huntsville area remains strong with the growing population, workforce, income, and GDP.
Days On Market
The average number of days on the market in the 2nd Quarter 2019 dropped to 45 days, the lowest days on market of any 2nd Quarter since 2010. This is a drop of 25% from 2018 and down 49% since 2017.
Read the full report here: Huntsville Area Real Estate Economics Report
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