The Alabama Center For Real Estate has released their latest report on the real estate market in Birmingham, Alabama, with stats updated through January 2018. We cover the highlights here!
The total number of houses sold in January decreased by almost 6% versus last year. The median (middle) sales price was flat compared to last year, at $185,000. Both of these stats buck recent trends of growth. (The average sales price of $228,000 was up about 3% versus last January).
The average days on market (days until a house is under contract) for January was 71 days, which was a decline from 75 days last year. (Conventional house sales can take anywhere from 4-8 weeks or longer to close after going under contract).
Meanwhile, the total inventory (number of houses available for sale on the market), was down by a huge 16% from January 2017 (this has been a continuing trend – last month was about 20% as well).
At the current pace of sales, there is a 6.3 month supply of houses on the market, down from 7.0 months last year.
Do you have a house sitting on the market that is not selling? Or do you want to avoid the hassles and costs of fixing up a house and listing it?
If so, calls us at 205-390-1050 or fill out our simple form at www.WeBuyBham.com.
We buy houses in the Birmingham, Alabama area. If you want to sell your house, we may have a solution for you. We buy as-is, can close on the date of your choice, and there are no commissions or closing costs.