The Alabama Center for Real Estate has released their report on the Birmingham real estate market with statistics for the month of May 2018. We cover the highlights here.
The total number of houses sold increased 9% this May versus May last year. Year to date, the total number of houses sold is up about the same (9.5%) versus last year.
Meanwhile, the median (middle) sales price also increased 9.5% versus last year, to just under $220,000.
The days on market (days it takes until a house goes under contract to sell) in May was 47 days, or about 6 weeks. This represents a 33% decline from last year’s 58 days. The total inventory of houses (number of houses available for sale) was down almost 14% versus last year. At the current pace of sales, there is a 3.4 month supply of houses on the market, compared to 4.3 months last year.
Bottom line is that if you have a house that is in great shape, is priced correctly, and located well, now is a good time to list on the market (assuming you have the time for the entire process to draw out and are able to show the house).
If you have a house you need to sell and do not want to deal with the hassles of listing a property the conventional way, call us at 205-390-1050 or fill out our simple form at www.WeBuyBham.com. We buy houses in Birmingham, and can close on the date of your choice. If you are interested in selling your house fast, contact us right away to see how we may help you.