Birmingham AL Real Estate BlogRecently posted or modified blog posts by tag - September Real Estate Market Updatehttps://www.megaagents.com/blog/Copyright MegaAgents.com2018-10-17T11:21:28-07:00tag:megaagents.com,2012-09-20:1990September Shows Continuing Increase in DemandThere were 1,458 closings reported for the month of September, according to figures provided by Greater Alabama Multiple Listing Service. This represents a 18.4 percent increase from the 1,231 closings reported for September 2017. <br /><img src="https://assets.site-static.com/userfiles/903/image/Birmingham_Flyer.jpg" width="412" height="533" alt="September 2018 Birmingham Market Update" style="float: right;" />
We are continuing to see an increase in demand seasonally in the market.
Year-to-date closings total 13,023 a 4.8 percent increase compared to the 12,425 closings reported through September 2017.<br class="kix-line-break" /><br class="kix-line-break" />The trends are all continuing in a positive direction at this time, and we aren’t seeing any indicators of a shift at this time in the market.
A comparison of sales by category for August is:
2017 2018<br class="kix-line-break" />CLOSINGS 3,882 3,961<br class="kix-line-break" />Residential 3,282 3,301<br class="kix-line-break" />Condo/Townhome 410 438<br class="kix-line-break" />Multi-Family 24 30<br class="kix-line-break" />Farm/Land/Lots 167 192
The median residential price for a single-family home during September was $247,604 and for a condominium/townhouse it was $173,516. This compares with last year’s median residential and condominium/townhouse prices of $248,808 and $178,249.onally in the market.
Active inventory at the end of August was 9,018, which decreased from 9,970 in 2017.
The current inventory of properties by category, compared to last year, is:<br class="kix-line-break" /><br class="kix-line-break" /> 2017 2018<br class="kix-line-break" />INVENTORY 9,970 9,018<br class="kix-line-break" />Residential 6,233 8,677<br class="kix-line-break" />Condo/Townhome 525 984<br class="kix-line-break" />Multi-Family 86 95<br class="kix-line-break" />Farms/Land/Lots 2,364 2,394<br class="kix-line-break" /><br class="kix-line-break" />We are still in a seller’s market in most areas of the Birmingham Real Estate Market.2018-10-17T09:15:00-07:002018-10-17T11:21:28-07:00Hallie Underwood