Interest rates and inflation may be affecting home sales in the Huntsville area, but they don’t seem to be having as much of an impact on how much homes cost.

At least not yet.

The average price for a home in Madison County in June was $385,000, just $3,000 more than it was in June of last year, and a $2,000 drop from May, according to data from ValleyMLS.

But it might not be that much of a cause for celebration, at least compared to the rest of the state. According to an Alabama Association of Realtors report, the average sales price for the state dropped 11.7% from a year ago.

“We’re not seeing a drop out, bottom out on prices,” said Tim Knox of Leading Edge Real Estate Group in his June report. “Things are making adjustments, but not drastically so. I think over the course of the summer, you’re going to see those numbers start to rise.”

And they did rise in two of the markets in the area: Athens (which includes Limestone County) and Decatur (which includes Morgan and Lawrence counties). The average sales price in Athens was $373,000, up $5,000 from 2022 and an increase of $7,000 from May.