The Alabama Center for Real Estate has released their report on the Birmingham real estate market, with statistics updated through January of 2019. We cover the highlights here!
The total number of houses sold increased just over 6% versus January of 2018, while the median (middle) sales price increased by about 3% to $191,000. The average sales price also increased by about 3%, to $236,000.
Days on market – the average days until a house goes under contract to sell – decreased over 25% versus last year, to 53 days. This statistics has consistently declined every month for an incredibly long time. If you house is in great shape, shows well, and is priced correctly, this number indicates that it should sell quickly.
Total inventory – the number of houses available for sale – actually increased almost 12% versus last year. This represents a change in recent trends. Though inventory is still historically low, it is has been steadily decreasing for some time. Could this be indicated a change in the market is coming? Based on the current pace of sales, there is a 6.6 month supply of houses on the market. This is a 5% increase from last year.
Do you have a house you need to sell? Are you not interested in going through the time, hassle, and expense of selling it the conventional way on the market with a Realtor? We buy houses As-Is throughout the Birmingham metro area, and would be happy to make an offer on your house. You can reach us directly at 205-390-1050, or fill out our simple form at www.WeBuyBham.com.