One of the things we like to do for our buyer clients, especially those that are relocating to Huntsville, is to provide a market condition snapshot of their favorite areas and limit our analysis to their explicit price range. Then during their house hunt visits we will focus our showings in their favorite areas with this valuable knowledge available in the event our client wishes to make an offer.
In this post we take a brief look at the $200k - $300k market segment across the different Huntsville Real Estate metro areas. The compiled statistics will show each area's current (May 1, 2008) supply, demand, absorption rate, price appreciation rate, and the associated market type (Buyer or Seller) all illustrated in the following graphic:
Huntsville/Madison Metro Area
$200k - $300k Market Segment Snapshot
| Market Segment | Demand
Per Month | Current
Supply | Months
of Supply | Last-Year's
Appreciation | Market
Type |
| Northwest Huntsville | 1.75 | 31 | 17.71 | 2.08% | Buyer |
| Northeast Huntsville | 0.5 | 11 | 22 | 11.7% | Buyer |
| East Huntsville | 8.5 | 49 | 5.76 | 3.0% | Balanced |
| Southeast Huntsville | 13.25 | 92 | 6.94 | 3.1% | Transitional |
| Southwest Huntsville | 9.5 | 72 | 7.58 | 0% | Buyer |
| Madison City Limits | 16.25 | 131 | 8.06 | 0% | Buyer |
| Madison Outside City | 14.25 | 145 | 10.18 | 0% | Buyer |
Just a note on the source of the statistics provided above:
All of the statistics are isolated to our Target Price Range of $200k - $300k only. The Demand Per Month is the average number of unit sales per month over the last four months. The Current Supply is simply the number of current active MLS listings. Months of Supply is the absorption rate inventory derived by Supply/Demand. And Last Year's Appreciation rate is calculated using the 2006 - 2008 (April to May) annual average price per square foot, thus two years of pricing data is normalized to May 1, 2008.
Since so many of our clients are technical professionals and know that sometimes statistics reveal anomalies that just scream-out for explanation, we need to provide a little more information on the 11.7% appreciation rate of Northeast Huntsville. Within this area of the City at this price point, exists the Historical Five Points Neighborhood near the downtown business / entertainment district. And as the old adage so correctly states: Real Estate Pricing is based primarily on Location, Location, Location. So the statistic above is dominated by this very unique neighborhood that must been shown to be appreciated.
If you are currently investigating buying or selling a Huntsville Home and not already working with a Realtor we would certainly welcome an opportunity to interview for your business and provide additional information in your particular price range across a number of Huntsville Neighborhoods around the area.
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