Huntsville Ranks as Alabama’s Most Affordable Market

Huntsville Alabama was just ranked Alabama’s most affordable residential real estate market by Coldwell Banker’s 2007 Home Price Comparison Index. Coldwell Banker compares 2,200 sq ft four bedroom homes in 317 different cities.

The study showed that Mobile was the most expensive residential market in Alabama with an average price of $232,375. Huntsville came in with an average of $212,183, ranking it as one of the least expensive housing markets in Alabama.

Coldwell Banker’s Home Price Comparison Index also found that the nations most expensive market was Beverly Hills California with a 2.2 million dollar average. The nations most affordable US market was Killeen Texas coming in at $136,725 for the same sized home.

Jim Gillespie, Coldwell Banker’s CEO, said during a statement that “The real estate market has certainly changed over the last year.” “I continue to point out that we cannot make national blanket statements about appreciation and inventory. Real estate is a local business, with each market having its own story to tell.”

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