TAG May Newsletter 2023

Posted by Rob Abercrombie on Tuesday, May 9, 2023 at 12:26:23 PM By Rob Abercrombie / May 9, 2023 Comment

May Newsletter

A Realistic Look Into the Huntsville Real Estate Market

Spring is the season when the housing market emerges from its winter sleep. The warmer weather draws buyers back to the streets and through front doors. The bottom line - Is this going to result in more sales?

The Mortgage Bankers Association noted mortgage applications in March increased by almost 1% compared to a year ago. Good news. According to Realtor.com, more than 75% of homeowners feel "locked in" to their low mortgage rates. Bad news. The number of pending home sales in Madison County has been on a steady uptick since the beginning of the year. Good news. Available inventory in Madison County has been on a steady decline. Bad news. Most Huntsville/Madison metro areas are seeing more normal price adjustments. Good news.

In other good news, Joe Davis Stadium is getting close to wrapping up its $29 million dollar renovation. You will also see a future mixed-use development, including retail, food and beverage, multi-family units, and a hotel.

Ongoing commercial development continues at every corner of the area. Businesses continue to hire and relocate people to Huntsville and Madison. Overall, the outlook for continued growth and a strong real estate market are met with optimism.

What's Happening in Huntsville?

Featured Listing

902 NE Wellman Avenue Huntsville, AL 35801 | MLS 1832281

FULLY RENOVATED two-story home located in the highly desired Five Point area. Just a two-minute walk to all of the restaurants and shops. You will love the combination of historic charm and all of the updates. The floor plan feels open with the spacious kitchen, large island, and walk in pantry. Enjoy a main level master BR complete with brand new tiled shower large closet. There are two BRs upstairs with a separate space that is perfect for an office or second family room. The backyard has plenty of room if you want to add a garage or just enjoy the outdoors. This location is a quick drive to downtown Huntsville or Monte Sano State Park