|
Last month I felt like I stuck my neck out by saying that I thought I was seeing the signs of an upturn in the market. Good news is we did see some improvement and I am hoping this is the first sign of the turn around. While I am not seeing any big changes in the numbers, I am seeing improvement and I would rather see steady but slow improvement than a sudden jump that turns out to be just a 'flash in the pan'. One of my close friends said this past Sunday that she was seeing increases in showings on their listings, more phone calls and some new listings, too. Marshall County saw their first improvement in the market in many months with a nice increase in sales. March saw an increase in the number of reported sales up 12.9% over February. Average sales price was down 6.6% and the Median price was down 3.1%. Compared to the previous 3 month average March sales were up 19%. Average price was down 7% and Median price was down 4%. There were 341 sales in March compared to 302 in February and 245 in January. You can see the steady increase there. Average sold price continues to drop from $209,242 in January to $182,766 in March. It would appear that the more expensive homes are not selling just yet. Another good indicator I noticed was that raw Inventory numbers are going up but Months of Inventory is dropping so they are selling faster than they are being listed.
In order to improve the Newsletter the data now includes all of Madison County.
|
<!-- Col 1 -->
|
The Charts <!-- HOM SOLD VS DAYS ON THE MARKET CHART -->
Chart shows the number of Residential homes sold in each month along with the average Days On the Market for those properties. I like to put Median and Average prices together. The main number to watch is the Median Price. It is the better indicator of what price homes are selling for. This chart is pretty obvious, just the raw number of homes for sale. Number of months of Inventory is a better indicator of the Market. This is a good indicator of supply and demand since it included the number of homes sold. More inventory the more it is a buyers market. Less inventory it becomes more of a sellers market. Of course all factors must be considered and you should not just rely on one set of numbers. This chart is a duplication but I like the way it is laid out. You can see the number of sales each year for each month making it easy to see differences in the past few years.
The Trend Line is important. It averages over the previous 3 months of data and helps to allow for the spikes and dips and shows what I think is a more accurate trend. It is the thin black line at the top of the bars in the graph. It is more important than any single months data. |
<!-- Col 1 -->
|
<!-- Col 1 -->
Avar Realty and http://huntsville.helpmesell.com are Members of the Chamber of Commerce, National Association of Realtors and North Alabama MLS Service. We are the premier flat fee discount brokerage for Huntsville and North Alabama. For more information contact one of our flat fee agents.
Comments(0)