October Birmingham/Shelby Co. Home Sale Stats
Getting your home sold in Shelby County is taking longer in some communities and less time in others, while prices have dropped, according to October statistics from the Birmingham Multiple Listing System.
The average number of days on market increased in Alabaster and Chelsea, but fell in Helena, Pelham and Calera:
Prices continued a downward trend in October, and substantially so, compared to September:
How many homes are selling?
Except for Calera, the number of homes sold in October dropped from September. Chelsea saw the sharpest one month drop, while more homes sold in Calera during October than in September:
Why the uptick in Calera?
Perhaps it’s the large inventory of low cost housing (both new and resale), making for some very attractive deals for first time home buyers, along with the fact that Calera qualifies for USDA financing (which means loans with no down payment required).
I think these statistics are giving us some important messages.
If you’re planning on buying a home, the market is continuing to work very much in your favor in the Birmingham and Shelby County area. Prices have dropped, inventory is in plentiful supply, and loans continue to be very affordable.
If you’re trying to sell, the message these numbers present is that it’s going to take a lot more than just putting a For Sale sign in the yard.
Marketing plays a more critical role than ever, and must be done in innovative ways if your home is to stand out among all the other properties for sale.
Pricing is no less important and will be a huge deciding factor in how quickly you sell, or if you sell, at all (believe me, we have seen examples of both!).
You may also benefit from an informed assessment of your property’s appearance and condition. With so many homes for sale right now, if your property doesn’t sparkle, Buyers will simply move on to another.
These are some very good reasons for trusting the sale of your home to an Agent who’s knowledgeable about the market here in the Shelby Co./Birmingham area and who knows how to achieve success in spite of challenging economic conditions.
Posted on November 6, 2009, in Real Estate and tagged alabama, alabaster, birmingham, buyer's market, calera, chelsea, david black, days on market, Economy, for sale, Helena, home, homes, homes for sale, inventory, keller williams, keller williams realty, market, Maylene, metro south, MLS, montevallo, pelham, pricing, Real Estate, real estate agent, realtor, sales, shelby county, vestavia. Bookmark the permalink. Leave a comment.