Properties are selling fast in the Birmingham metro area as June’s days on market (DOM) average was an impressive 30 days, the fastest ever month for sales for the area in ACRE’s database, which goes back to 2000. Properties selling in June moved 15 days faster than one year ago, and the area’s year-to-date DOM average improved 21.4%, dropping from 58 days in 2018 to 45 in 2019. Demand for housing in the area remains strong as June sales improved 2.8% year-over-year (Y/Y). Year-to-date, sales are up only 0.4%, but the area is coming off a record year in 2018 and 2019 sales thus far have sustained those record levels. Stay tuned to see if 2019 turns out to be another record year for residential sales in the Birmingham metro area.
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