Market Trends has released their report on the Birmingham real estate market, with final statistics for the month of October 2016. We cover the highlights below.
Total dollar sales were up 13% versus October 2015, while the number of houses sold was up 6% versus last October. This indicates a slight increase in average sale prices.
Total inventory (the number of houses available for sale) was down almost 11% versus last year.
At the current pace of sales (for used houses), there is a 6 month supply of houses on the market, a decrease from 7 months at this time last year. The inventory of houses available for sale continues to decline. Of course, this can vary significantly depending on the specific area.
The average days on market (# of days to get a contract) for used houses in October was 112 days, or a bit under 4 months.
Overall, the market continues to look healthy.
Do you have a house that is sitting on the market and not selling? Or do you want to avoid the hassles of selling on the market altogether?
If so, we can solve your problem. We buy houses throughout Birmingham, in any price range, any condition, and any situation. We buy as-is, so you don’t need to do any repairs, or even sweep up!
Call us at 205-390-1050 and tell us about your house, or fill out our simple form at www.WeBuyBham.com.