Market Trends has released their report on the Birmingham real estate market for May 2015. We discuss the highlights below.
Total dollar sales increased 12% over May 2014, indicating a strong spring season. The total number of houses sold increased only 3%, indicating rising average prices.
Total inventory – the number of houses available for sale on the market – was up 1% versus last year.
At the current sales pace, there is an 8 months supply of houses on the market. This is even with last year at this time. This statistic varies considerably depending on your specific area, however.
The average days on market – time it takes to get a contract – for used homes was 114 in May, or about 4 months.
If you have a property that has been sitting on the market – or if you don’t to deal with the headaches and hassles of listing a property – call us at 205-390-1050 to discuss your options. We buy houses in Birmingham, throughout the metropolitan area. Please give us a call if you would like to sell your house fast, or you may fill out our simple form at www.WeBuyBham.com.