T
he Huntsville/Madison County residential real estate market has shown resilience in the typically slow winter season, with sales outpacing national norms. According to the Huntsville Area Association of Realtors (HAAR), 622 homes were sold in December 2024, a 18% increase from the previous year's 524 sales.

    The local market saw an uptick in inventory, with 2,347 houses available for purchase compared to 1,811 in December 2023. However, the average days on market increased to 59 days, up from 39 the previous year. The median home price in Madison County was $378K, a slight decrease from the previous year's $382K.

    The housing affordability index for single-family homes reached 95, indicating that the median household income only covered 95% of what is necessary to qualify for the median-priced home under current interest rates. Townhouse/condo units were more affordable, with an index of 115. The percentage of list price received remained stable at 97.6% and 97.7% for single-family and townhouse units, respectively.

    On a national scale, the National Association of Realtors (NAR) reported a 2.2% increase in existing-home sales in December, with a 9.3% year-over-year gain. Despite this uptick, the year's overall sales figures were the lowest since 1995. The median home price reached $407,500, a record high.

    NAR Chief Economist Lawrence Yun attributed the recovery to growing consumer confidence driven by rising wages and increased inventory. Realtor.com Chief Economist Danielle Hale noted that while the December uptick is promising, its sustainability will be tested in the coming months.