Huntsville, AL Real Estate & Homes for Sale | RE/MAX (2024)

FAQs

What is the housing market prediction for Huntsville AL? ›

2024 Predictions #2: Home Sales

Predicting lower interest rates in 2024, I believe this will drive home sales higher, both nationally and in our local Huntsville, Alabama real estate market. With the anticipated drop and continuation of decreasing interest rates throughout 2024, I expect home sales to climb.

Huntsville, AL

Huntsville, Alabama, often referred to as the “Rocket City,” tops our list as one of the best real estate investment markets in the state. This city is not only home to NASA's Marshall Space Flight Center and the Redstone Arsenal but also boasts a thriving tech industry.

In May, the publication ranked Huntsville among the top 3 best places to live in the United States for a third year in a row. Huntsville placed second out of 150 metros. In 2022, Huntsville rose to no. 1 from its previous third position due to the City's strong housing affordability and high quality of life.

Huntsville's population growth is real

An estimate by World Population Review has Huntsville's 2024 population at 228,455 — an increase of more than 12,000 residents — which averages to a little more than 3,000 new residents every year.

The article references a study done by Go Banking rates, which predicts Huntsville loses its label of affordability in 2030. In that year, it's predicted that the average home value surpasses seven figures and comes in at nearly $1.2 million.

Huntsville, AL housing market

The median listing home price in Huntsville, AL was $377.9K in April 2024, trending down -9.5% year-over-year. The median listing home price per square foot was $172. The median home sold price was $314.8K.

This northern Alabama city is known for its association with the U.S. space program, and has a lot to offer its residents. Huntsville has a thriving economy, beautiful natural surroundings, a low cost of living, and a number of cultural attractions.

According to the Home Builders' Digest, the cost of building a standard-construction, single-family home in the Huntsville area averages around $170 per square foot. This increases to around $200 per square foot for mid-range construction, and even higher for luxury or high-end homes.

Huntsville is rapidly growing. Not only have potential homebuyers realized that the cost of living is much more affordable in Huntsville so have many large employers. Huntsville is home to several government and corporate organizations that provide jobs that are more of a career than just something to make ends meet.

You can live comfortably in Huntsville on a monthly income of $3,500 versus having the same necessities in a city like New York with a monthly income needed of $7,300.

Is Huntsville AL in Tornado Alley? ›

Alabama is not part of Tornado Alley, but it is in the tornado-prone Dixie Alley — the South's version of Tornado Alley that also sees a disproportionately high number of twisters each year compared to other parts of the U.S.

In April 2024, 19.7% of homes in Alabama sold above list price, down 4.3 points year. There were only 26.4% of homes that had price drops, up from 19.0% of homes in April last year. There was a 97.7% sale-to-list price, down 0.32 points year over year. …

As illustrated by the Midpoint projection line in the scenarios chart, the midpoint of a potential growth range – between the lower Steady Numeric Growth (Linear) projection and the higher Accelerated Growth projection – would put Huntsville's population at 50,180 in 2025; 54,668 in 2030; and 64,496 in 2040.

By 2025 through 2028, given the large run-up from 2021 through 2023, home prices are predicted to rise more gradually at about a percentage point above the rate of inflation, for an estimated increase of 13% to 14% from 2023 levels.