What's Happening in the Local Birmingham Real Estate Market
Just wanted to share some insight into the Birmingham Real Estate Market, comparing October 2011 to October 2012.Â I'm happy to report it's consistent with what I've been experiencing with my own clients.Â
October 2011, there were a total of 1007 homes that sold compared to October 2012Â with 1043 homes sold, an increaseÂ of approximately 3.5% over the previous year.Â It is also interesting to note that when I looked at that same period for non-foreclosure homes, the number was a little more than 8% higher.Â Not only did our market experience more sales, but more retail sales or homes owned by private owners.Â There was a bigger gap in the List to Sold Price for foreclosures (no surprise there), than in retail/private owned homes.Â This indicates private owners have gotten more realistic about List Price.Â
The bottom line - more homes sold in Birmingham in October this year than last, and we are seeing an increase in retail/private owned homes too.Â Great news for our local market, and we hope to see this trend continue.
Sherri Elkins, Realtor
Action Real Estate
205-240-5522 text or call