What follows is a local monthly market conditions report for Montgomery Alabama. This particular report is for the month of October, 2008.
The following information is taken from statistics extracted from the local Multiple Listing Service (MLS) for the month of September and includes the local area market (area 10,20) to include the county of Autauga, and the city of Prattville. A complete MLS map of the local area can be found on the http://RealtyVan.com web site at http://realtyvan.com/mls_search.html.
Total number of Houses Under Contract 46, about the same as last month (47) AND a decrease from 56 compared to the same month last year. Total number of Houses Sold and Closed 31, a decrease from last month (48) AND a decrease from 47 over the same month last year. Average Selling Price of homes this past month: $173,099 an increase from last month ($167,709) and a decrease from $195,535 over the same month last year. The Median Sales Price for the total market being $172,500.
On October 10, 2008 there were a total 424 properties on the market of which 106 were new construction. A new statistics which is now being included is the number of active homes which are also listed as vacant 221. Changes in the the number of homes listed as vacant may provide a future indication of possible home foreclosures.
A total recap for the year of 2007 using the complete MLS servicing area has the total number of properties sold as 5,393 totaling in price $905,179,202 with the average home selling for 167,843 representing 97.26 of the average listing price of $172,569 and averaging 92 days on the market. The web site supporting the Montgomery MSA with consumer access to the Multiple Listing System (MLS) can be located at: http://RealtyVan.com