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Home Sales Jump 14% in Birmingham

Looking to buy a home in Birmingham? House sales are growing in popularity in the area, and the Alabama Center for Real Estate has found that residential sales have risen 14 percent in June in comparison to June 2013. Birmingham totaled 1,282 single home sales last month, compared to 1,128 during the same time in 2013, which was also a 3.7 percent jump from May and 17 percent higher than the five year average between 2009 to 2013. As sales continue to grow, the existing inventory in the area is becoming increasingly competitive and higher in list price for interested buyers.

The average price is up in the Birmingham metro by 6 percent over May. The median sales price for June was $177,832, up 2.4 percent from May and down 6.4 percent from June of last year. So far in 2014, the median sales price is $161,589. There is good news though if you are thinking about moving to Birmingham: Inventory jumped 1.2 percent to 7,555 units in June, freeing up a few properties for prospective movers. The average days on the market for Birmingham units was 83 in June.

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