The real estate market in the Huntsville area is continuing to thrive. With people starting to feel safe enough to move, many are choosing to move. Compared to last year, the market increase is substantial.
In March of 2021, eighteen country homes and acreages sold for an average price of $801,844. Compared to March of 2020 when nineteen country homes and acreages sold for an average price of $410,086. The average price in 2021 is almost double the average price in 2020. Prices are rising quickly and people are choosing to spend their money in the Huntsville area.
Single family homes saw a large increase in average price, with the majority of 3 bedroom homes in March of 2021 selling between $180,000 and $240,000. This is a much higher starting home price than Huntsville has seen in the past.
Fifty-two single family homes sold in March of 2021 for an average price of $232,987. This is an increase from March of 2020 when thirty-six single family homes sold for an average price of $215,991.
Where is the real estate market headed? The Huntsville area is seeing consistentant and substantial growth in pricing and residents. The Huntsville trend is similar to the real estate growth trend occurring in Montgomery County and the Bryan/College Station areas. Their growth has been increasing for many years while Huntsville is really just now starting to accelerate and developers are acting on the potential for profit.
If you don’t already own a home, now is the time to buy. As more and more people discover Huntsville and purchase homes, prices will rise. People who already own real estate are in a good position to increase their net worth as their properties become more valuable. If you are considering selling, now is a great time. Many homes are selling quickly and receiving multiple offers.The offers that are getting accepted are thousands of dollars over the asking price. A home in The Avenues just recently sold in 2 days for $13,000 over the asking price.
Daiquiri Beebe is a Huntsville resident and realtor for Abby Realty.