Birmingham Homes Selling Faster Than One Year Ago

By ACRE Research

Sales: According to the Greater Alabama Multiple Listing Service, Birmingham-area residential sales totaled 1,074 units during February, up 4.2 percent from 1,031 sales in the same month a year earlier. February sales were also up 28.9 percent compared to 833 sales in January. Results were 17.1 percent above the five-year February average of 917 sales. Two more resources to review: Quarterly Report and Annual Report.

For all Birmingham-area home sales data, click here.

Inventory: Total homes listed for sale in the Birmingham area during February were 4,778 units, a decrease of 8.5 percent from February 2018’s 5,220 units and a decrease of 13.5 percent from January 2019’s 5,524 units. February months of supply totaled 4.4 months, a decrease of 12.1 percent from February 2018’s 5.1 months of supply. February’s months of supply also decreased 33.3 percent from January’s 6.6 months of supply.Pricing: The Birmingham-area median sales price in February was $195,000, a decrease of 2.5 percent from one year ago and an increase of 2.1 percent from the prior month. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood. The average number of days on the market (DOM) for homes sold during February was 53 days, a decrease of 8.5 percent from 70 days in February 2018 and constant with 53 days in January.

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