Decatur housing market heats up while others in Huntsville area cool down

Decatur housing market heats up while others in Huntsville area cool down

Roger Pettingell Sarasota Real Estate

Rising interest rates have helped cool down home sales by about 10% compared to a year ago in the Huntsville area with one notable exception: Decatur.

Home sales in the Decatur area -which includes Morgan and Lawrence counties – rose by about 6% in August over the same time in 2021, according to statistics released by the Huntsville Area Association of Realtors.

“The economy in Decatur has always been tied to Huntsville, and those ties have been strengthening over time,” said Stuart Norton, associate director of the Alabama Center for Real Estate at the University of Alabama. “More and more people view Decatur as an option. It’s similar to Athens. As Huntsville, Madison and Athens get more expensive, many people view Decatur as a more affordable option.”

He called the 6% growth “impressive” considering interest rates were at 3-4% in 2021, compared to the 6% many home buyers are currently seeing.

A total of 776 homes were sold in August in Madison County, down from 802 in July and 861 in 2021. In Athens and Limestone County, 191 homes were sold, which was up from 183 the previous month, but down from 235 in August 2021. In the Decatur area, 188 homes were sold, up from 163 in July and 177 in August of last year.


Leave a Reply

Your email address will not be published.