Birmingham area home sales continue to show year-over-year improvements in October as home sales increased 12 percent, according to data from the Greater Alabama Multiple Listing Service and the Birmingham Association of Realtors.
This is great news for all of the the Birmingham metro area, including the Ross Bridge community. Ross Bridge lies in Jefferson County in Birmingham’s largest suburb, Hoover.
Specifically, 938 homes were sold this October in the Birmingham area, while 838 homes were sold in October 2012 in the Jefferson, Shelby, Blount and St. Clair counties.
And home sales weren’t alone in their year-over-year improvement – the average price of a home in the Birmingham area increased 3 percent since last year, and the median price improved 7.6 percent.
And the good news doesn’t stop there! Birmingham area home sales also passed the 10,000 milestone last month. Through October, 10,162 homes were sold in the metro area – an increase of 11 percent from the same time period in 2012.
The increase comes after a strong September, when home sales rose 16 percent. Though home sales in October fell 8 percent from September, this isn’t cause for concern – the decrease can be at least partly attributed to the cyclical seasonal slowdown that occurs this time of year.
Without a doubt, these increases for Birmingham metro homes such as those in Ross Bridge are all great indicators of the area’s current real estate health – but those forward thinkers may be asking themselves what’s in store for the remainder of year. Real estate experts projected the highest fourth quarter levels for the vast majority of indicators seen since the beginning of the survey in 2010, according to the Alabama Real Estate Confidence Index (ARECI) released in October.
With the recent strong months in home sales, it seems as though the real estate experts behind the ARECI had good reason for their high hopes. Though we don’t know for certain what lies in store, one thing we can tell you is that Ross Bridge is an excellent choice if you’re looking for a new home in the Birmingham area. Our beautiful community boasts not only a world-class golf course, a luxury resort, and beautiful parks in the rolling hills of Hoover, but also extraordinary homes of every shape and size to suit your needs.
The year-over-year rising home sales, median price and average price of homes show that the Birmingham area is an increasingly desirable one – and if you decide to make it your home, Ross Bridge is the place to be.
Sources: Al.com, Alabama Center for Real Estate