Moving to Birmingham? You might want to act quick as home sales are picking up in the area and leaving little inventory left for prospective buyers. The Birmingham Association of Realtors released its June home sales report this month, including figures for the first six months of the year which state that home sales are up 4 percent for the first half of this year compared to the same months in 2013.
Home sales for the month of June totaled 1,272, which we previously shared as a 14 percent jump from June 2013. However, both the average home sales price of $220,469 and the median home price of $177,500 were 4 percent and 7 percent lower, respectively, than in June 2013. The housing inventory of 7,586 in June 2014 was 5 percent lower than the 7,964 homes on the market a year ago.
So what does this mean for people interested in moving to Birmingham? The average sales price will likely pick back up, and foreclosures were factored into sales and likely skewed the average price for homes that are updated and ready to move into.