Market Trends has released their latest report on the status of Birmingham’s real estate market for June 2014. Highlights are summarized below.
Total dollar sales were up 5% versus last June, though the moving average line has flattened, indicating “uncertain market conditions.”
While dollar sales were up 5%, the total number of houses sold was up 19% from last June, which indicates that average prices are falling.
Total inventory (the number of houses available for sale) is down 10% versus last June.
For used houses, there is currently an 8 month supply of houses on the market (at the current sales pace). Note that this number can vary wildly within various sub-markets and price ranges.
The average days on market (days it takes to sell) for used houses in June was 131, or about 4.5 months. If your house is in good shape and price competitively, this is about how long you should expect it to sell if listing it on the market the conventional way.
If you have a house that you would like to sell quickly, whether it needs massive repairs or it is in perfect shape, call us at 205-390-1050 or check us out on the web at www.WeBuyBham.com. We Buy Houses in Birmingham in all situations, conditions, and price ranges. Get our free special report entitled “How to Sell Your House for Top Dollar Fast” at www.SellHouseReport.com.