We are in a unique position in Huntsville right now. We have buyers who want to buy, sellers who don’t want to sell and everyone in between.
We have nice homes that need a little improvement selling for full price. We have homes that would have sold with lowball offers in past real estate markets selling for almost full price.
We have sellers who do not want to do any repairs and we have buyers willing to pay higher prices and take care of the repairs themselves.
This is very different from the recent past where homes would sit on the market and sell for quite a bit lower than the asking price.
What do the numbers look like from October of this year, compared to October of last year? Homes and land prices have risen substantially over last year.
In 2020, seventeen country homes and acreages sold for an average price of $458,807. In 2021, fourteen country homes and acreages sold for an average price of $547,628.
In 2020, forty-five single family homes in the Huntsville area sold for an average price of $242,123. In 2021, thirty-six single family homes sold for an average price of $252,483.
What do these numbers mean for Huntsville? The abundance of buyers and limit of homes is making home prices less affordable for local residents. Lower interest rates are allowing people to afford higher home prices than before but as prices incrementally increase, it is becoming more difficult for people to purchase a home in Huntsville, Texas.
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