The Alabama Center for Real Estate has released their report on the Birmingham real estate market, with statistics updated through September 2018. We cover the highlights here!
The total number of houses sold increased by almost 8% versus September of last year. Meanwhile, the median (middle) sales price was $210,000, representing an increase of slightly over 8% versus September of last year.
The average sales price of $246,000, which is more skewed towards expensive houses, increased only 4% versus last year. Since the average increased less than the median, this indicates some softening in the upper end of the real estate market.
The Days on Market (average days until a house goes under contract) was 49 in September, which was a whopping 15.5% decrease versus September of last year. What’s more, this statistic has been trending downward consistently for some time now. If you have a house in a good area, in good shape, and have it priced appropriately, this indicates you have a good chance of selling relatively quickly.
At the current pace of sales, there is a 4.2 monthly supply of houses on the market. This represents a declind of almost 18% versus September of last year.
Do you have a house to sell and don’t want to deal with the hassles of listing it on the market? Or does it need a lot of work, and would fail an inspection?
We buy houses in Birmingham, and would be very interested in making you an offer. You can reach us directly at 205-390-1050, or fill out our simple form at www.WeBuyBham.com. Thanks & good luck!