TAG February Newsletter

TAG February Newsletter

The Madison County real estate market has experienced both positive and negative changes over the past month. We have seen the number of closed sales fall over 27% from December to January, and the average price of a closed homes fell almost 7% from the previous month. However, there is some good news: the last two weeks of January saw the number of pending homes skyrocket. We have had quite a few multiple offers as interest rates have dipped below 6% for the first time in months.

The market in Madison County is still quite active, and it appears that buyers are taking advantage of the lower interest rates. The decrease in closed sales and average home prices could be attributed to the fact that fewer people are listing their homes for sale at this time of the year. Despite this, the past couple of weeks have been full of multiple offers with homes that fall below the $500,000 mark.

Overall, the Madison County real estate market in Alabama is doing well despite the challenges of the past month. Buyers are taking advantage of low interest rates, and the market is seeing a surge in activity. With the continued low interest rates, we should continue to see positive changes in the market in the coming months.

For any real estate questions, reach out to us. We'd love to help!