👉The Stats are out and this time we have a short video with the July real estate market update from one of our hottest Counties in North Alabama: Limestone County and Athens area.
Friends, a few takeaways from our real estate market in July:
1. North Alabama Housing Market is still thriving. We have seen a small slow down in the frenzy competition of what we call a Seller’s market though.
2. Inventory continues to climb back to 2019 levels, even as home values stabilize.
3. After the pandemic rush, the local market is leveling out across all indicators without losing stability. So we are still THRIVING in this area of North Alabama.
4. According to the National Association of REALTORS® (NAR):
“Nationally, the U.S. housing market has continued to cool, as rising mortgage rates and record-high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago,”
5. The local Athens – Limestone County real estate market is still strong and still shows us it is a great time to Sell and for those of you waiting to buy a new home, it is STILL a good time to buy.
6. The longer you wait to buy a new house, the more you may end up paying.
7. Nobody knows what the future of our home prices will be but for now, those of you that currently own a home or are about to buy one, you are holding one of the best investments you can have.
8. Despite the summer slowdown, homes are still selling quickly, with the typical home staying on market an average of 14 days in North Alabama
Our North Alabama Stats Shows:
👉 New Listings increased:
0.5 percent for Single Family homes
1.9 percent for Townhouse/Condo homes.
👉 Pending Sales decreased:
18.5 % for Single Family homes
24.2 % for Townhouse/Condo
👉Inventory increased 90.5 % for Single Family homes and 75.0
% for Townhouse/Condo homes.
👉 Median Sales Price increased:
16.7 % to $350,000 for Single Family homes
8.7 % to $250,000 for Townhouse/Condo homes.
Need a local expert to help you buy or sell your most valuable asset ? Then, Let’s Connect today
John Wesley Brooks
The Brooks Family Of Realtors
📞 256-797-2283 – 256-759-7744
📍Coldwell Banker Of The Valley
📍Huntsville, Al
🌐 https://www.johnwesleybrooksrealestate.com
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Remember, The Brooks Family Of Realtors Has Been Serving The North Alabama & Tennessee Area Since 1972. We Are A Three Generation Real Estate Family Completely To Your Service Whether You Are Just checking Out This Part Of The United States, Curious About All The Noise Our Rocket City Is Famous For, You Are Relocating, Just Moved To Alabama or You Want To Invest In Our Real Estate Market.
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