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Stats & Facts – Week of May 15

Published on May 17, 2017

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Read time: 1 minute

 

Home sales on the rise

Huntsville home sales in Q1 rose 11% over 2016’s first-quarter sales, representing 1,410 homes sold. This was 32 units shy of the 2007 first-quarter peak of 1,442 homes and 60% higher than the 2011 low of 879 units.

Property values increasing

The median sales price in Huntsville rose to $179,154, a 5% increase from 2016.

And our homes are selling FAST

Homes sold in Huntsville during Q1 spent an average of 88 days on the market, selling 15% faster than 2016’s 103 days.

More good news to come?

The National Association of Realtors predicts in 2017 for the U.S. that existing-home sales will rise by 3.5%, and home prices likely will increase 5%.

Stats & Facts is a weekly series covering City of Huntsville economic development announcements, relevant national and regional statistics that could impact the Rocket City region and informational nuggets that span industries. It is compiled by Business Relations Officer Harrison Diamond. 

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