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.