Birmingham Real Estate Stats for September 2013

The Alabama Center for Real Estate (ACRE) releases stats on a monthly basis for Alabama and key areas within the state, including Birmingham. These real estate stats are helpful to real estate investors who want to know more about the Birmingham market, especially compared to a year ago. Here, I’ll take a look at median and average selling price, days on market, and total homes listed. Median Selling Price for Birmingham Homes Increases Annually Compared to the local real estate market in September 2012, the market one year later looks a lot stronger. The median selling price for the Birmingham metro area climbed by 3.13% annually, to $165,000 (up from $160,000. While the price actually declined by 2.37% from August, a yearly gain of 3.13% at this time suggests promise and is higher than the state average – which was -1.33%. The average selling price also grew by 11.78% yearly and climbed monthly, as well, by 1.93%. Average Days on Market Decrease Substantially In what is good news for sellers and investors alike, the average days a property in the Birmingham metro area spent on the market in September 2013 declined by 12.24% from September 2012. Fewer days on the market suggests a healthier, more vibrant market. Now, the average home is on the market for 86 days, which is the lowest of the state’s five metro markets. Fewer Total Homes Listed From September 2013 to September 2012, the number of total homes listed dropped by 3.61%, and 1.67% from August to September of this year. There were a total of 7,788 homes listed in the Birmingham metro area, representing 23% of the state’s total listings. That last figure was actually 24% a year ago. That puts the inventory to sales ratio for Birmingham at 7.6, lower than the state’s average of 9.5 and the second-lowest ratio for the state’s metro areas. If you want to learn more about Birmingham real estate and how it impacts your real estate investments, contact gkhouses.com and call 205.940.6363 today.