Thu, July 23rd, 2009
IT’S GETTING BETTER!

Home Sales Report

 June 2009

Birmingham area home sales in 2009 continue to increase each month: 

January:          564 Units 

February:        725

March:            854

April:              887

May:               959

June:            1090

Median prices have increased each month, indicating that a wider price range of homes are now being sold in the Birmingham Area MLS. Fewer foreclosures each month may also be having an effect. The average prices are also on the increase (Note: February was higher than March & April):  

Jan Average Price:        $151,584          Jan Median Price:          $129,900

Feb Average Price:        $171,062          Feb Median Price:         $130,000

Mar Average Price:        $160,929          Mar Median Price:         $138,000

Apr Average Price:        $165,540          Apr Median Price:         $141,000

May Average Price:       $185,713          May Median Price:         $156,000

Jun Average Price:        $189,332          Jun Median Price:         $160,000  

Foreclosure sales: The June report shows a total of 315 foreclosure sales representing 29% of the total. The 278 foreclosures sold in May represented 29% of the total. The 305 foreclosure sales in April represented 38% of the total. This compares to 40% of the total in March and 39% of the total in February and 45% of the total for January.  

The average foreclosure price in June was $80,273 compared to May which was $80,376. The average foreclosure price in April was $76,085, the March foreclosure price was $66,959, the February foreclosure price was $78,044, and the January foreclosure price was $75,697.  

When comparing June 2009 sales with June 2008, sales were down by 13% but the average price in June 2009 was only 4% behind the average one year ago and the median price was down only 3% from last year. In previous months the average price has been as much as 15% to 21% behind the same reporting period from the previous year.  

Birmingham area home sales market is #20 in national report: The Brookings Institution report shows Birmingham is one of the strongest metro areas in the nation when it comes to home price stability. The numbers, provided by The Birmingham News ranks cities based on the change in the home price index from the first quarter of 2008 to the first quarter of 2009. Birmingham placed number 20 on the list showing a 2 percent rise. Houston led the list with a 4.7 percent rise. The average American city declined 6.3 percent according to the report.  

The statistics in this report compare total residential sales 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.

Posted by NHB at 08:25 | Permalink |