The Alabama Center for Real Estate (ACRE) at the University of Alabama released a report on residential sales data in the Birmingham area, comparing 2010 YTD to 2011. Although area sales arent yet back to their 2006 peaks, activity has grown and data has improved considerably in the last year.
Through September this year residential sales have risen to 905, an incredible 25% improvement over the same period last year. Birmingham also lead the major metro markets in average home price, increasing over 2% YTD to $173,541.
Finally, the report showed that the Days on Market (DOM) have continued to improve in Birmingham month to month as well, dropping 4.5% down to 105 days from August 2011 to September.