Market Trends has released their report on the Birmingham Real Estate Market for the month of July 2015. We discuss the highlights here.
Total dollar sales were up 1% over July of 2014. There has been consistent growth in this figure over the prior 12 months. Meanwhile, the total number of houses sold was down 1% versus last year (this indicates that the average price increased slightly versus last year).
The total inventory – number of houses available for sale – was about 2% lower than last year.
At the current pace of sales, there is about a 9 month supply of used houses on the market, which is even with last year. Of course, this statistic can vary a lot depending on your specific area.
The average days on market for used houses was 117 in July, which is about 4 months. This is the average time to get a contract, and does not include the 6-8 weeks that a buyer with financing can take to actually close.
If you have a house you need to sell in Birmingham, and are not interested in dealing with the hassles of selling on the conventional market, call us at 205-390-1050 or go to www.WeBuyBham.com and fill out our simple form.
We Buy Houses in Birmingham, Alabama and the surrounding areas. We help people who want to sell their house fast, in all situations, price ranges, and areas of Birmingham. Call or click today!