Home Sales Break Frta - om Trend - Prices Show Seasonal Decrease

Huntsville, AL - (October 15, 2009)- Home sales in Huntsville Madison County broke from seasonal trends and rose in September according to new data prepared by the Huntsville Area Association of REALTORS® (HAAR). Home sales rose by 1.12 percent in September from the previous month and by 3.68 percent from September 2008.

At $165,275, the September 2009 single-family home median price - the figure at which half of the homes sold for more and half sold for less - decreased by 3.9 percent from August 2009 and by 3.06 percent from the same period last year.

“Our housing market continues to show signs of improvement. While it is not as robust as many would like to see, we are one of the few markets in the country where we continue to see growth and are on a much faster track to normalcy,” said Oscar Gonzales, HAAR CEO.

Available Properties

The number of available properties (active listings) in September decreased by 3.83 percent or 112 active listings compared to August 2009. There were 187 fewer listings compared to September 2008, reflecting a seasonal contraction of inventory as we move into the winter months.

The Huntsville Madison County area month’s inventory of single-family homes for September came in at 7.76 months compared to the national month’s inventory of single-family homes, which is approximately 10.2 months, according to the National Association of REALTORS® (NAR).

Days on Market

The September 2009 Average Days on Market (DOM) decreased by 10 days to 82 compared to August 2009 and decreased by 11 days from September 2008.

Month’s inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Real Estate Milestones in September

Home sales rose by 1.12 percent in September from the previous month and by 3.68 percent from September 2008.

At $165,275, the September 2009 single-family home median price decreased by 3.9 percent from August 2009 and by 3.06 percent from the same period last year.

The number of available properties (active listings) in September decreased by 3.83 percent or 112 active listings compared to August 2009.

The September 2009 Average Days on Market (DOM) decreased by 10 days to 82 compared to August 2009 and decreased by 11 days from September 2008.

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The computerized Multiple Listing Service, the North Alabama Multiple Listing Service (NALMLS) a subsidiary of the Huntsville Area Association of REALTORS® includes residential properties and new homes listed by 3,000 Realtors in North Alabama. Residential listing information for more than 2,800 properties may be found on the Internet at http://www.valleymls.com

The information published and disseminated to the North Alabama Multiple Listing Service (NALMLS) is communicated verbatim, without change as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported include a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures.

Founded in 1948, the Huntsville Area Association of REALTORS® (HAAR) is a 2,000 plus-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling.