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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:

Days On Market  JUN-OCT 2009
Click here to see a larger version of the Average Days On Market graphic

Prices continued a downward trend in October, and substantially so, compared to September:

Average Prices  JUN-OCT 2009
Click here to see a larger version of the Average Sales Price graphic

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:

Homes Sold  - JUN-OCT 2009
Click here to see a larger version of the Number of Homes Sold graphic

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.

David

Birmingham Home Sale Prices

How much does it cost to buy a home in the Birmingham/Shelby Co. area?  Here are a few numbers that really show the variety of inventory and pricing currently available.  Remember that these are asking, and not sold, prices:

Alabaster/Maylene/Saginaw
Homes For Sale:  370
Under $150,000:  125
$150,000-$199,999:  111
$200,000-$249,999:  51
$250,000+:  83 just_listed2

Helena/Pelham (Shelby Co.)
Homes For Sale:  502
Under $150,000:   148
$150,000-$199,999:  153
$200,000-$249,999:  72
$250,000+:  129

No. Shelby Co./Hoover
Homes For Sale:  725
Under $150,000:  30
$150,000-$199,999: 41
$200,000-$249,999: 127
$250,000+:  527

Chelsea
Homes For Sale:   287
Under $150,000:   23
$150,000-$199,999:  92
$200,000-$249,999:  53
$250,000+:  119

Calera/Montevallo/Wilton
Homes For Sale:  334
Under $150,000:  203
$150,000-$199,999:   77
$200,000-$249,999:  29
$250,000+:  25

Source:  Birmingham Multiple Listing System

David

Birmingham & Shelby County Home Sales Update

Here’s hoping you had a Merry Christmas!

As we wind down the last few days of 2008, here’s a look at how many homes are for sale in the Birmingham, Alabaster and Shelby county areas. We did an update like this in November, and it’s interesting to see that—in nearly every case—inventory has dropped from the earlier update. The numbers in parentheses are how many homes were for sale as of the November update:

Alabaster – 372 (389)
Altadena/Cahaba Heights – 33 (50)
Calera – 297 (297)
Clanton – 171 (179)
Columbiana – 44 (52)
Chelsea – 249 (255)
Helena – 245 (269)
Hoover – 939 (982)
Indian Springs – 10 (32)
Inverness – 55 (56)
Liberty Park/Vestavia – 409 (452)
Meadow Brook – 7 (13)
Montevallo – 96 (100)
Pelham – 298 (333)
Vincent – 26 (27)

Source: Birmingham Area Multiple Listing Service

I suppose people are finally deciding that the opportunities to buy a home really are as good as they’re being told. And there’s no doubt about it: As the New Year gets underway, home prices and inventory will continue to offer buyers some of the best deals that have occurred in many years.

David

Helena, Alabama, Home Sales – October, 2008

Are you a numbers fan? If so, here are a few statistics on October, 2008, home sales in Helena (both Jefferson and Shelby counties), taken from the Birmingham MLS that you may find interesting:

Do homes still sell?  Yep.  Nine Helena homes sold within 30 days...

Are homes selling? Yep. In Helena, nine homes sold within 30 days during October...

  • Number of sales during month:  27
  • Average price: $192,501
  • Average days on market: 85
  • Miscellaneous notes:

  • Lowest price:  $13,000 (38-year-old mobile home on Highway 93)
  • Highest price:  $350,000 (New four bedroom home in Long Leaf Lake, reduced from $389,900)
  • Two of the month’s sales were foreclosures, both in Laurel Woods, for $127,100 (on the market for 70 days), and for $120,000 (on the market for 109 days).

  • 22 of the 27 properties sold for 95% of their list price or higher
  • Fifteen homes sold in 90 days or less
  • Eleven homes sold in 60 days or less
  • Nine homes sold in 30 days or less
  • Longest time on market: 270 days
  • We plan to publish updates like this from time to time, so you’ll have a snapshot of what’s happening with the real estate market in the Birmingham and Shelby county, Alabama areas. Let us know what you think!

    David

    Birmingham/Shelby County Home Sales Update

    The Birmingham and Shelby county real estate market offers lots of styles, locations and prices to choose from

    Birmingham and Shelby county offer a large inventory of homes, like this house on a lake in Chelsea.

    Just how many choices do you have when it comes to finding a home in the Birmingham and Shelby county, Alabama area? The answer is: A lot!

    Here’s a look at the number of homes for sale in a few different parts of Shelby and Jefferson counties, as of October 24, 2008, from the Birmingham Area Multiple Listing Service:

  • By City:
  • Alabaster: 391
    Calera: 264
    Chelsea: 244
    Helena: 267
    Hoover: 990
    Montevallo: 96
    Pelham: 339
    Vestavia: 331

  • By Neighborhood:
  • Old Cahaba (Helena): 43
    Ballantrae (Pelham): 65
    Riverchase (Hoover): 50
    Wild Timber (Pelham): 7
    Savannah Pointe (Calera): 31
    Saddle Lake Farms (Alabaster): 9
    Stonehaven (Pelham): 20

    Needless to say, the numbers certainly show that you’ve got a lot of choices if you’re thinking of buying a home in the Birmingham or Shelby county area. Whatever the style, whatever the price you want to pay and whatever the neighborhood you’d like to be in, there are options aplenty. Let us know if we can help…

    David