Home Buying in Madison>Question Details

Homebuyer123, Home Buyer in Madison, AL

I am interested in knowing which neighborhoods in Madison are in the hottest market -- are there any neighborhoods where the homes sell more quickly

Asked by Homebuyer123, Madison, AL Sat Jun 18, 2011

due to desirable location or lot preference, etc? I am looking for a market similar to the updated homes in sections in the Jones Valley area of SE Huntsville.

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J. A. Sasser, ABR, SFR’s answer
During the last six months, homes in the Mill Creek Elementary School district have had the highest number of sales (69) inside the Madison city limits. Some of the subdivisions that stand out are Stillwater Cove (10 sold 260's - 310's), Ashbury (10 sold 150's - 200's), Mill Stone (10 sold 290's - 400's), Hardiman Place and Creekside at Hardiman Place (combined 8 sold 180's - 270's), Chelsea Park (6 sold 180's - 220's) and Foxfield (8 sold 460's -650's). These six areas had 52 of the 69 sales since January 2011.

http://www.sasserrealestate.com
1 vote Thank Flag Link Sun Jun 19, 2011
Clifts Cove has the best selection right now. You could probably use that to your advantage in negotiations. I'd mention them here, but I wouldn't want any Clift's Cove listing agents to see the strategy ahead of time :)

Historically, homes in Madison around that price have done relatively well. All it takes is a drive through a couple of these communities to see that. Now, there's just been a little bit of a shift in the market. If you have any specific questions, feel free to shoot an email over to me: seth@level10realty.com - I can help you out with anything you need to know.

Seth
0 votes Thank Flag Link Sun Jun 19, 2011
Seth those are the exact comps we are looking at, but our work/school (private) are closer to Madison. So we are a little indecisive as to where to buy. It is a hard decision. The safer bet seems a better option but the homes in Madison seem a better value for the actual house. Any input is helpful! We know the hsv market better than Madison so we are really interested in all info you want to give.
0 votes Thank Flag Link Sun Jun 19, 2011
Have you considered Clifts Cove? It is an established neighborhood with lots still available.
0 votes Thank Flag Link Sun Jun 19, 2011
In total honesty, there really is no "hot" market in the Madison area for properties close to $1M. Since the beginning of the year, there have only been 5 homes sold over $600K in Madison. Quite different from South HSV, East HSV, and the Hampton Cove area where around 22 properties have sold for over $600K.

When it comes to desirable neighborhoods in that price range, Clifts Cove and Highland Lakes are usually everyone's first choice for a mature neighborhood with character. They also have the flexibility of building on a few available lots as well if they don't want something already on the ground.

It's a little bit of a jump from some more consistent places like Greenwycke Heights, the Ledges, and Walker Woods on the other side of Huntsville. It's always difficult to predict resale, but if you go by recent data, it would look like that area of Huntsville would be the safer bet at this time. A year or two or three or four down the road, that could all change. For example, the year before the market blew up in Cali, all the data pointed to buying a home for well over it's worth because you'll be able to flip it in a few months and make a hefty profit. We all know what happened then.

Feel free to ask any more questions. I'd be happy to send any more info your way.

Seth
0 votes Thank Flag Link Sun Jun 19, 2011
New construction is certainly an option too, as long as the neighborhood is mostly built out already. We would not want to get stuck in an area where the neighborhood never gets completed. We prefer a more mature, completed look, but are not opposed to building. We would prefer to stay under $1M, that would be comparable to the neighborhoods in the SE Huntsville area I mentioned that we are also considering. We know that area better and know where to buy that is a good investment for easy resale. Not so sure about comparable areas in Madison though? Any help appreciated!
0 votes Thank Flag Link Sun Jun 19, 2011
There are definitely some areas that sell better than others. What is your general price range of homes? That would make it pretty easy to send you a list of what you're looking for. New construction is especially hot right now and accounts for approximately 30-35% of the current market.
0 votes Thank Flag Link Sat Jun 18, 2011
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