2008
YEAR TO DATE
TOTAL ACTIVE LISTINGS – 785 Units
Single Family Homes – 670 Units
Condos – 33 Units
Townhomes – 82 Units
SOLD RESALE LISTINGS FROM 01/01/2008 – 10/30/2008 – 663 Units
Single Family Homes – 472 Units
Low - $145,000 Average - $337,580 High - $1.8 mil Average Days on Market – 97
Condos – 65 Units
Low - $96,000 Average - $212,989 High - $321,000 Average Days on Market – 40
Townhomes – 125 Units
Low - $90,000 Average - $179,951 High - $300,000 Average Days on Market - 78
The preceding information does not include for sale by owner and rental properties and was generated from the Birmingham Multiple Listing Service. This information is deemed accurate but is not guaranteed.
Posted by Christina Rickey at 12:50 |
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On Sunday, October 19, 2008, I had the privilege to participate in the annual Buddy Walk for PADS, Parent Advocates Down Syndrome of the National Down Syndrome Society. This annual event is to raise money for the Adult Down Syndrome Clinic at UAB. The clinic, only the second of its kind in the nation, offers comprehensive care and specialty care for adults with down syndrome. As mentioned in a previous blog, my beautiful granddaughter Emily was born with down syndrome. Although she will not be eligible to use the UAB clinic until she is 12, it is good to know that Birmingham and UAB are in the forefront with medical care and assistance for persons with down syndrome. The Parent Advocates Down Syndrome group embraces one vision - “a world for individuals with down syndrome where limitless potential is accepted, expected, and embraced. PADS believe these special people can and will succeed in our communities”. Congratulations to the Laps for Little Bit Team in honor of Emily who raised over $2,000 for this worthy cause.
Posted by Christina Rickey at 02:50 |
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Year-to-date and September 2008
Year-to-date and September home sales in the Birmingham area are down, as are prices, but we have some positive news. MLS inventory continues to move in the right direction with 11,578 listings in September compared to 13,560 in September 2007. This represents 1,982 fewer listings in MLS now compared to one year ago. The Year-to-date report shows the average price of Birmingham area homes has dropped 3% which is less than other markets around the country. Here is more news:
Total residential sales for September 2008 are 8% behind September a year ago. This may be significant because 8% is the smallest decrease in monthly sales we’ve seen all year. Each month for the first eight months of 2008 the decrease has been 27% on the average.
September 2008 total sales outnumbered August 2008 total sales. This normally doesn’t happen. September sales have always been fewer than August sales dating back to 1992. Traditionally this has much to do with end of the summer home buying season and the beginning of school.
September 2008 totals, however, are 1,172 compared to 1,146 for August or a 2% increase. What does this mean? It’s too early to say, but around the nation, the National Association of Realtors experts say increases in closings are expected. NAR says that there is a new momentum in the national housing market as buyers begin to take advantage of lower prices and affordable interest rates. As a counter-balance to this news, most economic reports are cautionary in light of recent events (Fannie Mae, Freddie Mac debacle, the government bail-out of Wall Street, bank failures, etc.). It’s anybody’s guess as to when buyers will get back into the market. Much still remains to be seen as to when this housing market bottoms out and the rebound starts-up.
SEPTEMBER REPORT
September 2008 Total Sales: 1,172
September 2007 Total Sales: 1,283
This represents an 8% decrease in total sales for this month.
This is significant due to the percentage of the drop each month for the first 8 months this year. The average decrease has been 27% each time.
The fact that total sales in September 2008 are only 8% behind September 2007 is significant.
Here is a quick look at September sales in recent years:
Sept 2008: 1,172
Sept 2007: 1,283
Sept 2006: 1,523
Sept 2005: 1,574
September 2008 Average Price: $182,955
September 2007 Average Price: $204,112
This represents a 10% decrease in average price for this month which is a significant drop.
The year-to-date average price is 3% behind last year at this time.
Here is a quick look at September average prices in recent years:
Sept 2008: $182,955
Sept 2007: $204,112
Sept 2006: $192,312
Sept 2005: 197,370
September 2008 Days on Market: 98* adjusted to exclude new home sales
September 2007 Days on Market: 101* adjusted to exclude new home sales
September 2008 Inventory: 11,578
September 2007 Inventory: 13,560
This represents 1,982 fewer listings in the MLS for this month
YEAR-TO-DATE REPORT (January through September)
2008 Total Sales: 10,227
2007 Total Sales: 13,937
This represents a 27% decrease in total sales
2008 Average Price: $193,305
2007 Average Price: $200,202
This represents a 3% decrease in average price
Still some good news…prices have not dropped lower than this point all year
2008 Median Price: $158,700
2007 Median Price: $161,400
This represents a 1.7% decrease in median price
2008 Days on Market: 99* adjusted to exclude new sales
2007 Days on Market: 94* adjusted to exclude new sales
YEAR-TO-DATE REGIONAL REPORT:
2008 SOUTH METRO AREA Total Sales: 4,792
2007 SOUTH METRO AREA Total Sales: 6,865
This represents a 30% decrease
These statistics compare total residential sales for September 2008 vs. September 2007 as well as Year-to-Date statistics as compiled by the Birmingham Area Multiple Listing Service, Inc. of the Birmingham Association of REALTORS®. Neither the Birmingham Association of REALTORS® nor its MLS guarantees or is in any way responsible for its accuracy. Any market data maintained by the Association or its MLS does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of the Association or MLS, unlisted properties, rental properties, etc.
Posted by Christina Rickey at 08:07 |
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Fall has arrived in Birmingham and the weather is perfect. Today was a beautiful, sunny day with temperatures in the low 80’s and almost no humidity. I decided to enjoy the Bluff Park Annual Art Show in Hoover. This art show is always held on the first Saturday of October and promises to be one of the area’s best outdoor events. I was not disappointed! Over 120 artists from all over the country gathered to exhibit their talents. There were photographers, painters, jewelry makers, woodworkers, and sculptures from as far away as Michigan and many from the southeast including Georgia, Tennessee, and Florida. Local artists also had great representation. The art show is presented by the Bluff Park Art Association which consists of volunteers who are interested in the arts and giving back to the community. The funds earned from this one-day event helps keep the arts alive in Hoover. Cash prizes ranging from $3,500 to $100 were awarded to over 35 recipients. Princeton Hoover Baptist Medical Center donated several awards. The $3,500 Princeton Hoover Purchase Award for the Bluff Park Art Association Permanent Collection went to Nevin Newton of Hoover for his intricate wood sculpture. The Permanent Collection consists of almost 100 pieces of two-and-three dimensional art. These comprise a rotating display in local schools, libraries and universities. Since I know Nevin personally, I want to say congratulations for a job well done!
Posted by Christina Rickey at 07:50 |
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Christina Rickey 
