How limited is the Huntsville real estate market? There are almost 7 realtors for every house put up for sale.



Last week, Huntsville Planning Commissioner Peggy Richard sympathized with the crowd protesting against the plan to build two “huge” new homes on the same lot in their area. She really sympathized, but Richard said that too.

“Huntsville needs houses,” Richard said. “We have 3,000 realtors in Huntsville. I am a realtor. They are 49 years old. We have 3,000 realtors in Huntsville and fewer than 200 homes for sale when all these people come. So we need houses. “

Richard’s numbers weren’t entirely up to date, but they were close. The Huntsville Association of Realtors (HAAR) said last week that 2,400-2,500 realtors, who operate primarily in Madison County, have “376 active listings” for sale. That’s about 6.5 realtors per home.

Broaden the focus to northern Alabama, and the numbers show about 4,000 realtors / agents for 1,147 listings – roughly four agents for every home for sale throughout northern Alabama, not counting the shoals. This area includes Limestone, Cherokee, DeKalb, Etova, Jackson, Lawrence, Limestone, Marshall, and Morgan counties.

A pandemic is hitting Huntsville and the region, as elsewhere. Local leaders announced 510 new jobs at eight local companies in one virtual event due to the fact that they are unable to hold a regular press conference on site due to the pandemic. But it showed that the city is still doing business.

Mazda Toyota opens a joint car manufacturing plant that requires 3,000 workers, the FBI dispatches 1,400 technicians and others to the Redstone Arsenal, and the arsenal itself has been chosen as the home of the National Space Command. The decision is contested in Congress because of the losers, but so far it is still being implemented.

There are also offices in the arsenal that are developing two of the main priorities for the army for the next decade: improved “vertical lift” (more advanced helicopters) and navigation and synchronization. Similar technical programs have already resulted in new $ 6.6 billion in military contracts announced in May for SAIC and its local partners.

SAIC said it “will primarily seek new hires in the Huntsville job market.” But SAIC’s senior vice president of operations, Craig Nodein, agreed: “The market in Huntsville is very narrow.”

Where will they all live? Realtors President Zelda Friedman said last week that it would be the subject of a “summit” later this year where “builders, developers, local officials and anyone with skin in the game can discuss and create or imagine some kind of real world , common sense solutions that can bring more homes to market and build new homes to welcome all these new people we are going to meet in our area in the next few years. ”

Meanwhile, all of these realtors are rushing to get listings, and Friedman said they do so in accordance with the official code of ethics and rules and regulations. “You have to have rules, otherwise it will be like in the Wild West,” she said.

Friedman also confirmed reports that investors from other cities are pouring money into the local housing market. “Yes, they see market performance and see that buying property here is a good investment,” Friedman said. “But these are not only strangers. There are also locals who – even though they have a home – are investing in Huntsville real estate. “

Any last words to homeowners? Friedman has. “If someone is afraid to sell a house,” she said, “now is a great time to do it.”


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