According to the Greater Alabama MLS, April home sales in the Birmingham area held steady with only a 0.2% increase year-over-year from 1,229 to 1,232 closed transactions. Following seasonal trends, sales increased 8.1% from March. Sales are up 0.2% year-to-date Two more resources to review: Quarterly Report and Annual Report.
For all Birmingham-area housing data, click here.
Inventory: April listings (3,613) increased 0.8% from March and decreased 17.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, down from 3.1 months in March and down from 3.6 months in April 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 April was $321,750, an increase of 9.1% from one year ago and an increase of 4.9% from March. 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 April averaged 41 days on the market, 7 days slower than April 2024.
Forecast: April sales were 52 units, or 4.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 1,284 sales for the month, while actual sales were 1,232 units. ACRE forecast a total of 4,167 home sales in the area year-to-date, while there were 4,100 actual sales through April, a difference of 1.6%.
New Construction: The 88 new homes sold represent 7.1% of all residential sales in the Birmingham area in April. Total sales decreased 16.2% year-over-year. The median sales price in April was $381,700, an increase of 16.5% from March and an increase of 14.0% 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.
