Birmingham Real Estate Market Update for August 2011

The Alabama Real Estate Market Trends blog recently published updated Birmingham figures for August of 2011.

There are several important updates from this report to consider if you are trying to sell your home on the market right now.

One update is that the number of homes available for sale remains very high in relation to the number of homes sales that are occurring each month.   In fact, if NO other homes were to come up for sale, it would take a full 13 months to sell all the used houses on the market now based on the sales pace for August.

A second update is that the Average Days on Market for Birmingham — meaning the average time it takes a house on the market to sell — was 149 days in August (just about 5 months).  This means you should expect your house to sit on the market for at least 5 months if you intend to place it up for sale.

You can read more in the full report here.

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