Huntsville, Alabama

In January of this year, 443 units that are residential sold in Huntsville-Madison County. Sales went up 10.8 % from January 2017.

It is forecasted in January, that 421 will be the number of Huntsville residential sales. And it is also forecasted that for the year 2018, 7,212 will be the number of Huntsville residential sales. In 2017, 6,996 was the actual number of sales in Huntsville.

The amount of inventory has been declining. There were 1,823 housing units of inventory in January. This is 19.9% lower than last year January.

In this year during January, there were 545 new homes listed for sale. During the same time in 2017, there were 557 new homes listed for sale.

The inventory here is thought to be in balance with around 6 month’s inventory. There is a balance in current levels of supply and demand.

During the month of January, $189,000 was the sales cost median in the Huntsville area. This is 11.2% greater than January of last year. But, the median cost lowered by 7.8% from last month December.

The median household income in Huntsville is $49,060.

In commercial real estate, there is a lot of activity in Huntsville development. One development project currently underway is “Times Plaza”. This property will be located at 2317 South Memorial Parkway. This project will have mixed use of both office and retail. There will be boutiques, restaurants and others.

The addition of an 8,200 square foot new development project was announced last November. It’s called Williamsburg Plaza and it’s located at the corner of Nance Road and Highway 72. It has 2 tenants which are Aspen Dental and Bank independent.  Progress in its construction is going well. The walls have been erected, and the roof is underway. It is expected that tenants will be able to open their businesses this year in the fourth quarter.