New numbers show a big spike in north Alabama home sales, but the surge comes as prices continue to stay low for frustrated sellers.
The Huntsville Area Association of Realtors released the latest figures for April home sales on Tuesday. Total home purchases surged by 31% from March to April, with the average listing spending just under four months on the market.
Realty Association CEO Oscar Gonzalez said the opportunity for a bargain buy may have led many home shoppers to finally pull the trigger. Home prices were relatively flat from March to April, with the median listing at $158,000. But prices saw a noticeable drop from one year ago, when the median fell at $176,000.
Homes that were less than $200,000 accounted for roughly two-thirds of all sales, a trend that many predicted will continue into summer.
"I think people have just gotten use to uncertainty being the norm," said Gonzalez. "Rather than just waiting, they're moving forward with buying home...What we are seeing is home sales under the $200,000 price range really up. It makes up 67% of all sales, which is pretty signficant. Smaller homes are kind of the norm now."