The Alabama Center for Real Estate has
released their report on the Birmingham real estate
market, with statistics updated through January of 2023.
We cover the highlights here!
The total number of houses sold in Birmingham area residential sales for the current month totaled 720 units, a decrease of 32.8 from the previous year.
The median sales price in Birmingham this month was $262,650, representing a 0.1% decrease from January’s 2021’s median sales price of $263,000. The average sales price in Birmingham during the current month was $317,719, a 3.3% increase from one year ago.
Days on market – the average days until a house goes under contract to sell – increased over 61.9% versus last year, to 34 days. This statistics has consistently declined every month for an incredibly long time. If your house is in great shape, shows well, and is priced correctly, this number indicates that it should sell quickly.
Total inventory (the number of houses available for sale) increased over 146.9% when compared to last year. Declining inventory has also been a long-standing trend that continues (inventory even declined versus last month). Based on the current pace of sales, there is a 4.5 month supply of houses on the market.If your house is priced well, shows well, and is in good shape, it should sell quickly!
If you need to sell a house quickly, or simply don’t want to fool with the hassles of dealing with listing a house on the market, call us at 205-390-1050 or fill out our simple form at www.CahabaHomebuyers.com. We Buy Houses in Birmingham and the surrounding neighborhoods. Call for a free consultation!