July 2007 Market Report

The total number of homes sold in Tuscaloosa County for the month of July, 2007 was 252.  Twenty seven percent (27%) of the homes sold were new construction.

The total number of homes on the market has increased again to 1,969, with the average DOM (days on market) rising to 112.

The average selling price was $179,739.

Compared to July of 2006, the number of homes for sale is up 29%.  There are 451 additional homes for sale than last year at this time.

Overall, I'm a little concerned about the number of homes on the market.  It doesn't appear that builders are slowing down any, but yet I don't see a demand for housing increasing compared to the number of new constructions that are going up.

The number of homes sold last year at this time was 241, which is an indication that the number of homes sold this year did not increase that much.