Huntsville Alabama Real Estate Growth

Huntsville Alabama and the surrounding areas including Madison, Harvest, New Market, Hampton Cove and other areas offer growth opportunities, high income growth, low cost of living and affordable Real Estate to families looking to start over. May home sales for the Huntsville Madison County area reached a nine-month high increasing by 26.57 percent compared to April. Kiplinger’s Personal Finance magazine evaluated U.S. cities for their growth potential, analyzing their ability to hold onto jobs even if the economy softens further. This employment analysis combined with data about income growth and cost of living led Kiplinger’s to choose these 10 cities as the best places to live and work in today’s challenging economy: 1. Huntsville, Ala.

The Real Estate market in Huntsville and surrounding areas is beginning to show signs of a small recovery. May home sales for the Huntsville Madison County area reached a nine-month high increasing by 26.57 percent compared to April, according to new monthly data prepared by the Huntsville Area Association of REALTORS® (HAAR). While homes sales slipped by 13.9% from May 2008, the increase in home sales from April to May 2008 rose by 18.4% while April to May 2009 home sales increased by 26.57%, reflecting a net 8.17 percent increase comparatively. At $175,000 the May single-family home median price – the figure at which half of the homes sold for more and half sold for less – increased by 6.12 percent from April 2009 and decreased by 2.2 from May 2008.

“The overall U.S.economy is beginning to show signs of recovery in spite of the national layoffs and company closures we hear about. The Huntsville Madison County area was not impacted like most of the country and our housing market remains healthy which is reflected in the sound numbers for May,” said Oscar Gonzales, HAAR CEO. The market in Huntsville Madison county is still considered a Buyer's Market. A Buyer's Market occurs when more than 5 months of inventory are for sale and there are only a few people actively purchasing.

The number of available properties, or active listings, at the end of May increased by .27 percent from May 2008 to 2,879. There were 22 more active listings (.77%) than April 2009, reflecting a well balanced inventory. The Huntsville Madison County area month’s inventory of single-family homes for April came in at 7.70 months compared to the national month’s inventory of single-family homes, which is approximately 10.2 months, according to the National Association of REALTORS® (NAR). There are currently 2,613 active properties in Huntsville Madison County; 847 of those homes are under the median price for single family homes. 348 of those homes qualify for additional buyer incentives including: the Guaranteed Rural Program, the FHA step-up program, etc.

For more information about the Huntsville Madison County Real Estate Market, email ericakassner@kw.com or visit our website. http://www.therealkassner.featuredblog.com