Market Trends has released their report on the Birmingham Real Estate Market with stats for the month of February 2016. We cover the highlights below.
Total dollar sales were a bit less than February of 2015, down by about 2%. Meanwhile, the number of houses sold was down 3.5% versus last year.
The slightly lower dip in the dollar sales figure indicates that average prices increased slightly.
Total inventory (the number of houses available for sale on the market) is down 6% versus this time last year.
At the current sales pace for used homes, there is a 6 month supply of houses on the market, compared to 7 months this time last year.
The average days on market for used houses was 137 days, or about 4.5 months. Note that this is the days until a house is under contract. I can then take up to three additional months for a sale to actually close, depending on the buyer’s financing.
If you need to sell a house in Birmingham and don’t want to deal with the hassles and time in selling the conventional way using Realtors, call us at 205-390-1050. We buy houses in Birmingham and the surrounding areas. If you need to sell your house fast, call or fill out our simple form at www.WeBuyBham.com now!