Market Trends has released their report on the Birmingham real estate market with final stats for the month of April 2016. We cover the highlights below.
Total sales increased about 4% versus April of 2015. Meanwhile, the total number of houses sold was very slightly below last April. This indicates a slight rise in prices since last year.
The total number of houses available for sale (“inventory”) was about 2% below the number the last year. At the current sales pace, there is about a 7 month supply of houses on the market, which is about even with last year. Of course, this can vary by a wide margin depending on the specific area and neighborhood.
The average days on market for used houses was 126 in April, or about 4 months. Bear in mind that days in market is the average time it took to get a house under contract. Actually closing on the sale can take an additional 6-8 weeks depending on your buyer and their financing.
If you have a house you are interested in selling, but don’t want to deal with the time and hassles of selling with a Realtor, call us at 205-390-1050 or fill out our simple form at www.WeBuyBham.com.
We buy houses in the Birmingham area. We buy as-is (you don’t even need to clean up), and can close on the date of your choice (fast or slow). If you do prefer to list your house, we can also refer you to an excellent group of Realtors.