According to the Greater Alabama MLS, November home sales in the Birmingham area decreased 1.53% year-over-year from 980 to 965 closed transactions. Following seasonal trends, sales slightly decreased by 14.22% from October. Sales are up 19.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all Birmingham-area housing data, click here.
Inventory: November listings (4,049) decreased 4.01% from October and decreased 21.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, up from 3.7 months in October, and down from 5.2 months in November 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 November was $310,000, decreasing slightly from October and an increase of 1.6% 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 November averaged 44 days on the market, 6 days slower than November 2024.
Forecast: November sales were 72 units, or 6.94%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 1,037 sales for the month, while actual sales were 965 units. ACRE forecasts a total of 13,034 home sales in the area year-to-date, while there were 12,669 actual sales through November, a difference of 2.8%.
New Construction: The 106 new homes sold represent 11.0% of all residential sales in the Birmingham area in November. Total sales decreased by 44.8% year-over-year. The median sales price in November was $348,560, an increase of 7.3% from October and a decrease of 1.5% 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.
