December Market Update and 2021 Trends

January 1, 2021

After spending so much time at home in 2020, homeowners have different priorities. Many families have spent months working from their kitchen table and teaching their kids online school at the same time, a challenge to be sure. A designated office space has become important for many homebuyers, for parents needing to get away from the noisy children or college students needing a private space to study. 

Most families still enjoy the open kitchen to living room floor plan for quality family time and entertaining. Outdoor spaces have become a priority. As travelling was more difficult for most people during 2020, people have chosen to upgrade their home or find a home with more amenities on-site. Larger yards for outdoor gardening, children’s playspace, pets, lounging, swimming pools and more. The home has become a refuge since staycations have taken the place of vacations in 2020. Upgrades like luxurious bathrooms and kitchens are a buyer’s dream. 

With the real estate market staying active into December of 2020. Let’s take a look at how it compares to December of 2019. Average sale prices have risen substantially in Huntsville, but with less inventory available, lower priced homes are difficult to find.

In December of 2019, thirty-seven single-family homes sold for an average price of $196,461.00, while fifteen country-homes and acreages sold for an average price of $274,222.00. In December of 2020, thirty-three single-family homes sold for an average price of $249,085.00, while ten country-homes and acreages sold for an average price of $383,490.00.

In 2020, there were two large builders selling single-family homes in Huntsville. In 2021, there are multiple companies developing new residential subdivisions in Huntsville and New Waverly. There will be more affordable homes available in 2021 which will allow for more opportunities for homebuyers. Don’t expect the real estate market to slow down anytime soon.

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