According to the Greater Alabama MLS, June home sales in the Birmingham area increased 13.6% year-over-year from 1,203 to 1,367 closed transactions. Following seasonal trends, sales slightly decreased by 0.4% from May. Sales are up 3.3% year-to-date Two more resources to review: Quarterly Report and Annual Report.
For all Birmingham-area housing data, click here.
Inventory: June listings (3,896) increased 4.0% from May and decreased 16.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, up from 2.7 months in May and down from 3.9 months in June 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 June was $325,000, remaining unchanged from May 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 June averaged 35 days on the market, 7 days slower than June 2024.
Forecast: June sales were 95 units, or 6.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 1,462 sales for the month, while actual sales were 1,367 units. ACRE forecast a total of 7,012 home sales in the area year-to-date, while there were 6,840 actual sales through June, a difference of 2.5%.
New Construction: The 93 new homes sold represent 6.8% of all residential sales in the Birmingham area in June. Total sales decreased by 38.4% year-over-year. The median sales price in June was $344,900, a decrease of 4.2% from May and an increase of 4.1% 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.
