Huntsville Real Estate Sales Statistics - August 2009

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. "The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit," he said. "Other buyers are taking advantage of low home values before prices turn higher. Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family's monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable," Yun said.

Madison County/Huntsville Real Estate Sales Statistics

Madison County/Huntsville real estate saw an decrease of 14% in sold listings when compared to August 2008. The average sales price decreased by 5% to $191,057. The average price per square foot increased by 8%. And the average list price decreased by 6%. While homes were on the market an average of 11 days less than August 2008.

Date	Sold Listings	Average List Price	Average Sale Price	Percent SP/LP	Average DOM	Average Price SqFt
Aug 2009	387	$195,453	$191,057	98.20%	69	$87
Aug 2008	449	$207,083	$201,732	97.84%	80	$80

This is a great time to consider buying Huntsville real estate. Housing affordability is at an all-time high, interest rates are at near record lows and now first-time buyers can use their $8,000 tax credit towards a down payment.

Don't hesitate and lose out. Give me a call and learn how you can take advantage of the $8,000 tax credit for first-time home buyers.

For more information about Huntsville real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.

To begin searching Huntsville real estate and homes for sale, please use my complimentary MLS search.

Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.

---