The Alabama Center for Real Estate has released their report on the Birmingham real estate market, with statistics updated through December 2018. We cover the highlights here!
The number of houses sold in December increased by about 7% when compared to December of 2017. Meanwhile, the median (middle) sales price of $187,500 declined by about 4% versus last year. The average sales price of $229,000 also declined by about 1.2% versus last year.
The average days on market (days it takes to get a contract) was 54 in December, which was a decline of over 14% versus 63 days last year. The days on market statistics has been steadily decreasing for quite some time, indicating that if your house is in good shape and is priced correctly, it should sell relatively quickly.
Total inventory (the number of houses on the market for sale) decreased almost 5% versus last December. It is quite incredible how this statistics has also been steadily and consistently declining for some time. At the current pace of sales, there is about a 4 month supply of homes on the market, which is an 11% decline from about 4.5 months at this time last year.
Do you have a house you need to sell more quickly than what the market will bear? Or does it need updating and repairs, and you just don’t want to deal with the hassles? If so, call us at 205-390-1050 or fill out our simple form at www.WeBuyBham.com. We Buy Houses throughout the Birmingham metro area. We are 100% LOCAL and experienced professionals that can help with selling any unwanted houses. Call or click today!