The Alabama Center for Real Estate has released their report on the Birmingham real estate market, with statistics updated through October of 2021.
We cover the highlights here!
The total number of houses sold in Birmingham residential area sales for the current month totaled 1,424 units, a decrease of 14.7% compared to the same time last year.
The median (middle) sales price was right at $270,000 which was an almost 10.2% increase versus last year’s $245,000.The average sales price was $326,000,, also a 12.6% increase versus last year’s $289,530. (The average number skews higher due to the effect of higher-end homes).
Days on market – the average days until a house goes under contract to sell – decreased over 57.1% versus last year, to 12 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) declined over 35.0% 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 1.9 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!