Market Trends has released their update on the Birmingham real estate market, with final data from the month of May 2016. We cover the highlights here.
So far this year, inventories continue to be down (i.e., the number of houses available for sale), and prices seem to be level with last year.
The total number of used houses sold was up by almost 13% versus last year, while the total inventory was down about 8% versus last year.
At the current pace of sales, there is about a 6.5 month supply of houses on the market, which is less than 8 at this time last years.
The average days on market (days to get a contract, NOT days to close — add closing time to this number), was 111 in May, or about 3 1/2 months.
If you have a house you need to sell, and don’t want to deal with the time, hassle, and expense of selling using agents and the listing service, call us at 205-390-1050 or check out our simple Sell Your House form at www.WeBuyBham.com. We buy houses in the Birmingham area, and can close on the date of your choice.