According to the Greater Alabama MLS, September home sales in the Birmingham area increased 11.6% year-over-year from 1,062 to 1,185 closed transactions. Following seasonal trends, sales slightly decreased by 1.9% from August. Sales are up 4.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Birmingham-area housing data, click here.
Inventory: September listings (4,218) decreased 19.8% from August and decreased 10.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.6 months, down from 4.4 months in August, and down from 4.4 months in September 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 September was $315,000, increasing slightly from August and an increase of 5.0% from one year ago. 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 September averaged 39 days on the market, 1 day faster than September 2024.
Forecast: September sales were 16 units, or 1.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 1.201 sales for the month, while actual sales were 1,185 units. ACRE forecasts a total of 10,932 home sales in the area year-to-date, while there were 10,579 actual sales through September, a difference of 3.2%.
New Construction: The 94 new homes sold represent 7.9% of all residential sales in the Birmingham area in September. Total sales decreased by 51.5% year-over-year. The median sales price in September was $309,900, a decrease of 7.2% from August and a decrease of 11.0% 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.
