Birmingham Real Estate Market Update for August 2013

Market Trends has released their report on the Birmingham real estate market for the month of August 2013.

The total dollar value of sales was up slightly – about 3% – versus last August, and the total number of houses sold was up about 1% versus last year.

The total amount of houses on the market available for sale is 10% lower than this time last year, which is good news if you are a seller.

For used homes, there is currently an 8 month supply of homes on the market (meaning at the current sales pace it would take 8 months to sell all of them, theoretically).  This is 2 month’s better than last year at 10 months.  Note this can vary by area — more desirable areas will have lower supply, and vice versa.

The average Days on Market, or days it takes to sell a house, was 126 for used homes.  This means that if your house is priced right, it is moving in about 4 months.

All of these statistics reflect averages for the “conventional” means of selling houses to homeowners through a Realtor.

If you are interested in a quick sale of your house, we buy houses for cash and can close fast.  We buy houses in all types of situations and areas, even if you owe more than you think the house is worth.

Call us at 205-390-1050 to discuss our options for helping you, or go to www.WeBuyBham.com to submit information about selling your house fast.

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