Birmingham Real Estate Update – January 2017 Results

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Market Trends has released their report on the Birmingham real estate with final statistics for the month of January 2017.  We cover the highlights here.

Total dollar sales for January were up 13% versus last year.  The total number of houses sold in January increased 3% versus January of last year.  This different indicates that prices are modestly increasing.

Total inventory (the number of houses available for sale) was down 14$ from last year.  At the current pace of sales, there is a 5 month supply of used homes on the market, which is less than the 6 months last year.    Note that this particular statistic can vary dramatically depending on the specific neighborhood or area.

The average days on market for used homes was 126 days, or about 4 months.  (Note that average days on the market refers to the time until the house is under the contract.  The closing period can then take an additional 4-8 weeks, depending on the situation).

If you have a house to sell in Birmingham, and are not interested in dealing with the hassles and time requirements involved with selling on the market, we may be interested in purchasing your house.  We buy houses in the Birmingham area.  Call us at 205-390-1050 to discuss your situation, or fill out our simple Sell Your House form on our website at www.WeBuyBham.com.

 

 

 

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