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Old 11-03-2009, 08:23 PM
 
Location: Madison, Alabama
956 posts, read 2,500,870 times
Reputation: 278

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I just received my housing reports and wanted to share the information:
For the metro markets, we ranked the best overall. Nice to see!

Avg. Sale price: Median Sale Price Days on Market Inventory supply
(supply vs demand)
Huntsville:
$166,495 Avg. Sale price, $147,500 Median SP, 94 Avg. Days on Market, 8.6 months supply (supply versus demand)

Mobile:
$139,639 Avg. , $125,000 Median, 116 DOM, 10.8 months supply

Birmingham:
$172,602 Avg., $152,700 Median, 94 DOM, 10.9 months supply

Montgomery:
$135,443 Avg., $123,450 Median, 100 DOM, 11.2 months supply

Tuscaloosa:
$165,452 Avg., $145,000 Meidan 93 DOM, 14.6 months supply

Last edited by Elizabeth_G; 11-03-2009 at 08:30 PM.. Reason: aligning columns...
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Old 11-03-2009, 08:35 PM
 
256 posts, read 605,541 times
Reputation: 149
Has HSV suffered from depreciating home values yet? Or, have we still seen appreciation throughout this great recession?
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Old 11-03-2009, 08:52 PM
 
Location: Madison, Alabama
956 posts, read 2,500,870 times
Reputation: 278
Things haven't been that great, lol.
I'm going to use the month of September as a reference, since that is what I used above:
2009 Average sale price: 166,495
2008 Average sale price: 168,857
2007 Average sale price: 177,996
2006 Average sale price: 163,133
2005 Average sale price: 152,969
2004 Average sale price: 147,006

Keep in mind this is the overall average for HSV. If you'd like more specific details, just let me know. (SW HSV, Madison, Harvest, etc, ..I can also figure by price range as well)
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Old 11-03-2009, 09:13 PM
 
256 posts, read 605,541 times
Reputation: 149
Thanks

Last edited by DavidH74; 11-03-2009 at 09:25 PM..
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Old 11-03-2009, 09:42 PM
 
1,645 posts, read 4,586,502 times
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I've heard that the market is not doing great in general. The highest price point selling is around 200K. And November, if not a great seller, might be putting some of the 2300 plus realtors here in the proverbial financial toilet. But hey, thanks for the numbers E. Glad to see the optimism.
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Old 11-04-2009, 02:19 PM
 
Location: Madison, Alabama
956 posts, read 2,500,870 times
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ionlife, Actually, in the past 12 months the numbers are almost exact in several price ranges....In the $200-219,999 range, the sales were 5.92% of ALL sales in the HSV area. In the $300-349,999 range, the sales were 5.85%. Above $400,000 takes a significant drop.

I think November is going to be a strong month, due to the first time buyers that are wrapping up from earlier in the fall...I'm certain the price range will be below $200,000 for the most part which will make your numbers right on when I pull stats for December.

I agree that a few agents may have no choice but to put their real estate careers on hold.
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Old 11-04-2009, 02:36 PM
 
8,742 posts, read 12,962,729 times
Reputation: 10526
Quote:
Originally Posted by Elizabeth_G View Post
I just received my housing reports and wanted to share the information:
For the metro markets, we ranked the best overall. Nice to see!

Avg. Sale price: Median Sale Price Days on Market Inventory supply
(supply vs demand)
Huntsville:
$166,495 Avg. Sale price, $147,500 Median SP, 94 Avg. Days on Market, 8.6 months supply (supply versus demand)
Hey Elizabeth_G, help me do the math here...

If the medium sale price is $147,500, which means 50% of people buy houses above this price and the other 50% buy houses below this price. Where are these houses that are sold for below $147,500??? Can you post some pictures of these houses? (please do so before Charles does )

Later, we can get into this concept called "3-sigma". I bet most of houses in Hampton Cove are 3-sigma outside of this average sale price... that is before Breland homes started selling there
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Old 11-04-2009, 02:43 PM
 
1,351 posts, read 3,425,008 times
Reputation: 250
Quote:
Originally Posted by HB2HSV View Post
If the medium sale price is $147,500, which means 50% of people buy houses above this price and the other 50% buy houses below this price. Where are these houses that are sold for below $147,500??? Can you post some pictures of these houses? (please do so before Charles does )

That's an easy one: It's South Huntsville after the HHA social re-engineering
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Old 11-04-2009, 03:28 PM
 
Location: Madison, Alabama
956 posts, read 2,500,870 times
Reputation: 278


HB2HSV: They even took the tires off for ya This one was "bring your own door". Sigma-3? Must we? ((giggle))
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Old 11-04-2009, 03:30 PM
 
Location: Madison, Alabama
956 posts, read 2,500,870 times
Reputation: 278
I could post some REALLY great homes, but don't want to get sent to time out for copying someones photos, so I'll quit while I'm ahead, lol. I'm sure Charles has some in his file cabinet he'll be sharing
Hurry Charles...the indians are getting restless!
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