Market Snapshot - Madison City Limits

If you are shopping for a home in Madison Alabama this summer it would be good to have a general feel for the market in your particular price range, prior to visiting neighborhoods and viewing specific Homes. I have put together a few of the Neighborhoods you are likely to run across while house hunting in Madison Alabamaat various price points. These include:

• $100k-$200k Colinwood Estates, Towne Centere, Shamrock, Stone Crest
• $200k-$300k Buckingham, Hardiman Place, Liberty Knoll, Oakstone
• $300k-$400k Browns Ferry Crossing, Rainbow Landing, West Highlands
• $400k-$500k Rainbow Landing, Heritage Plantation, Cambridge
• $500k-Up       Chapel Hill, Clifts Cove, Highland Lakes, Whitehall

[ Utilize these links to view current listings in these neighborhoods ]

Now that you have a feel for the homes currently available here in Madison Alabama, review the following chart to get an understanding of current market conditions across the various price ranges.The chart takes a snapshot of the seasonal demand and current inventory of homes. It also captures the absorption rate inventory and average price per square foot across these categories.  Price per square foot could vary from home to home, depending on the amenities offered. Remember: compare apples to apples!

Be sure to note the variety of market conditions and especially the market bias in your particular price range. For example, if you are a buyer in the upper end price range you can expect some seller flexibility. With a 17.5 month supply of inventory these sellers are likely experiencing some longer than normal time on market. 

When you find a few homes you really like and have put together a short list, be sure to have a knowledgeable REALTOR® perform a Comparative Market Analysis(CMA) on your properties of interest before finalizing any offer. By taking this more detailed look into specific neighborhood mini markets you may find that the neighborhood's pricing model may vary either up or down from the average price across Madison provided in the chart above.  CMA's should be very neighborhood specific, if possible, to gather a true value for the home you are interested in.

Please feel free to visit my web site, www.Huntsville-Realestate.com for more information. 

Happy house hunting!  Elizabeth