Market Trends has released their report on the Birmingham Real Estate Market, incorporating results for January of 2016. We cover the highlights here.
Total dollar sales were up about 6% versus January of 2015. The moving average of total dollar sales over the past twelve months has flattened.
While dollar sales were up 6% versus last year, the total number of houses sold was almost exactly the same as last year. This indicates that overall average prices increased slightly.
Total inventory – the total number of houses available for sale – was down about 4% versus January of 2015. At the current sales pace, there is currently a 6 month supply of houses on the market (used houses), which is about even with 7 months last year.
The average days on market (average number of days before a house is under contract) for used houses was 132 in January, indicated that the average house is taking about 4 1/2 months to sell. (Then add to that 4-8 weeks to actually close on the sale, depending on various factors such as the buyer’s financing).
The average sales price of used homes was $176,000.
Do you have a house languishing on the market that you would like to sell quickly? Or are you just not interested in dealing with the time delays and hassles of selling your house the “conventional” way?
We buy houses as-is, for cash, and can close on the date of your choice (fast or slow). Call us at 205-390-1050 to learn more, or check out our information website at www.WeBuyBham.com.