The Alabama Center for Real Estate has released their report on the Birmingham real estate market with stats from March 2025. We cover the highlights here!
The total number of houses sold in March was down almost 4% from last year, and down almost 19% from the past 5 year average.
The median (middle) sales price was $306K, up almost 4% from last year and up 12% from the past 5 year average. Meanwhile the average sales price was $384K, up 5% from last year and 19% from the past five years. Higher end houses pull the average up, so this indicates relative strength in the upper price houses.
Days on market (average days to get a contract) were 42, up 10% from last year and up almost 34% over the past 5 year average. Days on market is anticipated to remain within this range for the foreseeable future.
The total inventory (houses listed on the market) was down almost 13% from last year, though up 7% from the 5 year average. At the current pace of sales, there is a 3.1 month supply of houses on the market. This is down over 9% from last year, though up 25% from the prior five year average.
The bottom line is that there are less houses on the market, they are taking longer to sell, and prices continue to rise slightly.
If you have a house to sell, and do not want to deal with the time, cost, and hassle of listing it on the market, call us at 205-390-1050 or fill our our simple form at www.CahabaHomeBuyers.com. We buy houses in the Birmingham area and would love to see if we can help you out!