Market Trends has released their report on the real estate market for Birmingham Alabama with final statistics from the month of June 2016. We cover the highlights here.
Similar to last year, the number of houses available for sale is down, and prices are about level. The number of used homes sold was down about 3% versus this time last year.
The total number of houses available for sale (“inventory”) was down 7.5% versus last year. At the current sales pace, there is a 7 month supply of houses on the market, versus 8 months this time last year.
The average days on market (days it takes to get a contract) for used homes was 110 in June, or a bit under 4 months. (This does not include the time it takes to close a sale, which using the conventional method can take 6-8 weeks or longer).
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