Market Trends has released their monthly report on the Birmingham real estate market for the month of August 2014. We discuss the highlights here.
Total dollar sales were up 7% versus last year, while the unit of houses sold was down 2% from last year.
The total amount of houses available for sale on the market was down 11% versus this time last year. At the current sales pace, there is an 8 month supply of houses on the market, which is 1 month better than last year at 9 months. Note that this statistic will vary widely by specific area.
The average days on market (days it takes to sell) for used homes was 131 in August, or about 4.5 months. This is the average time it takes to get a contract. It then takes additional time – sometimes several months – for the typical sale to complete.
If you have a house sitting on the market, or if you have a property you just need to sell, call us at 205-390-1050. We Buy Houses in Birmingham Alabama and the surrounding communities. Sell your house for as-is for cash, and close on the date of your choice. You can also go to our Sell Your House form at: www.WeBuyBham.com.