The Alabama Center for Real Estate at the University of Alabama released 2011's mid-year study which listed the real estate market leaders from January – June compared to the same period last year. The study, which separates markets by size, showed very positive news throughout the state. The markets were broken up into 3 categories: metro, mid-size and rural.
According to the study, Birmingham topped the list for the metro market that had the largest average price increase year over year. In 2011 the average home price was just over $172,000 which was a 4.2% increase from the previous year. Other markets throughout Alabama had nice improvements in categories such as units for sale, units sold and Days on Market. Increasing homes prices is certainly another sign for those looking to purchase a new home in the Birmingham area that the time to strike is now.
(photo source: Al.com)
To read AL.com's report on the mid-year study, visit their recent article here!