According to the Greater Alabama MLS, January home sales in the Birmingham area increased 13.3% year-over-year from 694 to 786 closed transactions. Sales decreased 25.8% from December. Sales are up 13.3% year-to-date Two more resources to review: Quarterly Report and Annual Report.
For all Birmingham-area housing data, click here.
Inventory: January listings (3,306) decreased 33.0% from December and decreased 12.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, down from 4.7 months in December and down from 5.4 months in January 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply
Pricing: The median sales price in January was $282,000, an increase of 0.8% from one year ago and a decrease of 2.7% from December. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.
Homes sold in January averaged 50 days on the market, 10 days slower than January 2024.
Forecast: January sales were 65 units, or 9.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 721 sales for the month, while actual sales were 786 units.
New Construction: The 77 new homes sold represent 7.3% of all residential sales in the Birmingham area in January. Total sales increased 26.2% year-over-year. The median sales price in January was $324,850, a decrease of 1.5% from December and an increase of 1.7% from one year ago
Click here to view the entire monthly report. The Birmingham Metro Area Residential Monthly Report is developed in connection with the Birmingham Association of Realtors.
The Birmingham Metro Area Residential Monthly Report is developed in connection with the Birmingham Association of Realtors.
