Can you believe it? We can! When compared to the prior year, Birmingham’s metro area residential market saw incredible improvements this past July!
July’s housing market statistics were released at the beginning of September, lending us a preview into this summer’s housing market performance. According to the Alabama Center for Real Estate (ACRE) and the Greater Alabama MLS, housing supply dropped to 5.6 months in July, a stark difference from the 6.7 months in July 2013. The difference is even more evident when compared to the almost 15 month supply measured in July 2010. This drop in housing inventory is indicative of homes selling fast, before new ones can be built. The measurement is derived by dividing the number of homes listed by the number of homes sold. In a healthy market, inventory hovers around 6 months – so our region is right on point!
But really, the most impressive measurement from this past July was the encouraging number of residential sales. Over 1,300 units were sold in July, an 11.2% increase over last July and the highest July sales number since 2007. For Birmingham, sales numbers over 1,000 per month is a ‘symbolic benchmark’, one that our metro area was accustomed to surpassing before the changes in the housing market. Now, this achievement has once again become routine for our residential market.
Better yet, July’s results were 100 units above predictions. Because of this, real estate professionals and housing market experts remain optimistic for new homes for sale in the Birmingham metro area. Our new homes available at Ross Bridge offer the perfect answer for homebuyers looking the Birmingham-Hoover metro areas.
Nestled in the idyllic golf community of Ross Bridge, our homes are built with varying designs and floor plans in three unique neighborhoods; Glasscott, Haddon, and Southampton. At Ross Bridge, the golf resort lifestyle is enjoyed by all residents with playgrounds, maintained parks, community pools, walking trails, and of course, the Ross Bridge Golf Course, a stop on the Robert Trent Jones Golf Trail. Adding to the extravagance of our unique new home community is the Marriott Renaissance Ross Bridge Golf Resort & Spa, a luxury resort hotel that acts as the stunning centerpiece to Ross Bridge.
The new homes in our community are the best of golf course living – take advantage of the favorable Birmingham metro area residential market and move into your dream home at Ross Bridge!