Market Trends has once again released their monthly report on the Birmingham real estate market.
Total sales in August were up a surprising 25% versus August last year. Sales for August even increased versus July, which hasn’t happened in six years.
Total inventory (houses available for sale) is 20% lower than the same time last year. Inventory has not been this low in a long time.
However, there are 14 months worth of used homes on the market (this means at the current sales pace, it would take 14 months to sell all listed used homes). This measure is currently deteriorating.
The average days on market, or average time it takes to sell a house, is a bit over 4.5 months for used homes, which is a slight improvement versus last year. As always, if your house is not selling you should reduce the price, especially as we enter the slow selling season.
If you have been trying unsuccessfully to sell your house in the market, or need to sell fast for any other reason, call us at 205-390-1050 or go to www.WeBuyBham.com. We buy houses in the Birmingham area, and have multiple types of solutions to help you sell your house fast.