The Alabama Real Estate Market Trends blog has released it’s update for November 2011 Birmingham Real Estate.
Total sales were up 18% over last year, but this comparison is affected by the expiration of tax credits last year. These tax credits basically accelerated sales that would have occurred in November 2010 into earlier months so that people would not miss out on the benefit.
The supply of used homes on the market remains high. There are currently 11 months worth of used houses on the market, which is a slight improvement versus 13 months last year.
The average days on market for used houses (how long it takes a house to sell once it’s placed on the market) stands at just under 5 months. It has held steady on this range for most of the year.
The high supply of houses on the market indicate that sellers are still holding out for higher prices. If you’re home is not selling, you need to reduce the price! This is especially true as we are entering the slow selling season surrounding the holidays.
If your house is on the market and you are interested is selling it quickly, call us at 205-390-1050 or logon to www.WeBuyBham.com today and tell us about it . We buy houses in Birmingham, Alabama and the surrounding areas, so if you would like to sell fast contact us ASAP!