November Home Sales Numbers:
GOOD NEWS: Total Birmingham area home sales increased by 46 percent in November 2009 compared to November 2008. Total November sales were 879 compared to 603 in November 2008.
This significant increase in total sales can be attributed to what was happening one year ago with the presidential election and the Wall Street crisis. Congress had just moved to bail out financial institutions. Home buyers became jittery by all the uncertainty and dropped out of the market in droves. As we consider economic conditions from a year ago it is encouraging that November home sales have increased.
MORE GOOD NEWS: The median price in the Birmingham area increased by 4 percent in November 2009 compared to November 2008. The November median price was $145,000 compared to $139,900 in November 2008.
Residential inventory continues to drop. Current levels are 26 percent lower than the highest ever recorded back in August 2007. Also note inventory is at lowest point since May 2006.
Foreclosure Sales:
The November report shows 220 foreclosure sales representing 25% of total sales. This is lowest percentage of foreclosures for a reporting period (month) this year. The October report shows 282 foreclosure sales representing 30% of total sales. The September report shows 263 foreclosure sales representing 28% of total sales. The August report shows 254 foreclosure sales representing 28% of total sales. July shows a total of 287 foreclosure sales representing 27% of the total. June report shows 315 foreclosure sales representing 29% of the total. The 278 foreclosures sold in May represent 29% of the total. 305 foreclosure sales in April represent 38% of the total. This compares to 40% of the total in March, 39% of the total in February and 45% of the total for January.
YEAR-TO-DATE STATISTICS
|
|
2008 |
2009 |
% Difference |
|
# of Sales |
11,656 |
9,803 |
This is a 16% decrease |
|
Average Sales Price |
$189,786 |
$171,735 |
This is a 9 % decrease |
|
Median Sales Price |
$154,600 |
$145,90 |
This is a 6% decrease |
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. 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.
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