Birmingham Real Estate Update (September 2018)

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The Alabama Center for Real Estate has released their report on the Birmingham real estate market, with statistics updated through August 2018.  We cover the highlights here.

The total number of houses sold was just about flat with last year, only increasing by 0.5%.  The median (middle) sales price was $209,000, which was an increase of about 7.5% from $194,000 at this time last year.  Meanwhile, the average sales price increased 6.3% to $250,000.

The days on market for August (days it takes a property to get a contract on it) was 42 days, which was a decline of over 23% from last year’s 55 days.  The trend of shrinking days on market has been continuing for quite some time.  (Note this does not include the closing period — just the time until a house goes under contract).

Total inventory (the number of houses available for sale on the market) is also continuing it’s downward trend.  It declined over 10% versus last August.  At the current page of sales, there is about a 4 month supply of houses on the market.  This is an 11% decline versus last year’s 4.4 months.

Do you have a house to sell, and are not interested in dealing with the hassles of selling conventionally?  Call us at 205-390-1050 or fill out our simple form at www.WeBuyBham.com.

We Buy Houses throughout the Birmingham area.  We can close quickly and buy your house as-is.   Call or click today!

 

 

 

 

 

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