The Alabama Center For Real Estate has released their monthly report on the Birmingham real estate market, with stats covered through the end of September. We hit the highlights below!
The total number houses sold declined by over 8% versus September 2020, though we remain at historically high levels. Meanwhile, the median (middle) sales price increased almost 6% versus last year. The average sales price increased almost 10%. When the average increases more than the median, this indicates that higher priced homes are increasing at a greater rate.
The current days on market – or days to get a house under contract to sell – was down a whopping 54% versus last year to only 12 days. I don’t know what the record low is, but this has to be close! The total inventory of houses – or houses available on the market – was down almost 31% versus last year. This inventory figure has been steadily declining as well.
At the current pace of sales, there is a 1.9 month supply of houses on the market, which is down almost 25% from last year and it at least at a 10 year low.
All this indicates that if you have a great house, in great shape and condition, and in a good area, now is a good time to list it on the market. However, it also means it’s a hard time to find a NEW house to move into.
Regardless, we can help. If you need to sell your house as-is, and need either to close on a specific date or even an unknown date or timeframe, or if your house is in need of many repairs, call us at 205-390-1050 or fill our our simple form at www.CahabaHomeBuyers.com.