Huntsville Alabama Real Estate Market Condition

Huntsville Alabama has seen a significant decline in real estate transactions for the month of April 2008.  There was a decline of 21% in monthly sales for April 2008 as compared with April 2007.  A decline of 7% in average sale price since March 2008 and a 6% decline since December 2007 was also observed.  April inventory rose to 9% or 7.90 months supply of homes for the North Alabama Madison county real estate area.  This is a 26% increase in inventory compared with April of 2007 and an increase of 62% compared with April 2006 when the real estate market was really hot and subprime lending was at its peak.   On the bright side, Alabama ranked 43rd for properties with foreclosure filings or 1 in every 3,251 homes!  Overall, the rise in inventory for the Huntsville Alabama Madison County area makes it a great opportunity for more qualified buyers to have a better selection of homes to choose from.  Those relocating to Redstone Arsenal due to BRAC will also find it to their advantage with inventory up like it is.  On the other hand, sellers holding on to their homes for 6 months or longer are reducing their prices and are more willing to negotiate with buyers.  This has also forced many Huntsville Alabama sellers to be more realistic in the pricing of their homes (watch Time=Price Relationship Video) in order to compete with other like homes or even new homes.  Prepping the home prior to listing it on MLS will be to the advantage to the Huntsville Alabama home seller in order to further differentiate their home from others on the market.  Curb appeal, home staging, and making necessary repairs to plumbing, electrical, foundation, roofing, and heating and air will help the Huntsville Alabama home seller to sell their home faster during today's real estate market condition.  To make the most out of your home sale, seek the advice of a professional Realtor.