The Alabama Center for Real Estate has released their report on the Birmingham real estate market, with statistics updated through April 2018. We cover the highlights here!
The total number of houses sold in April increased by 18% versus April of 2017. The median (“middle”) sales price was $197,000, as compared to $200,000 last year. It is interesting to see a slight decline in the median sales price given recent trends! (Meanwhile, the *average* sales price increased 3% versus last year, indicating greater growth in the market for higher-priced houses, which bring up the average).
Days on market (days until a house goes under contract) was 52 days in April, or a bit less than 2 months. This is a 16% decline versus April of 2017, when it was 62 days. This indicates that houses that are appropriately priced (and in good presentable shape) are selling relatively quickly right now.
Total inventory (number of houses available for sale on the market) declined 13% versus last year. This is a long continuing trend of declining inventory. Inventory is down 55% against the peak in April 2008.
Based on the current sales pace, there is a 3.7 month supply of houses on the market, representing a significant decline of 27% versus April of 2017. Once again, this reflects the continuing decline in the inventory of houses available for sale.
Do you have a house sitting on the market and not selling? Or do you need to sell quickly? Or just simply don’t want to deal with the hassles of fixing your house up, showing it, and waiting for a qualified buyer?
If so, call us at 205-390-1050 or check us out at www.WeBuyBham.com We buy houses in the Birmingham area. We are experienced house buyers, and if you want to learn how to sell your house fast, please contact us ASAP.