For the first time in six months, Alabama's home prices have seen an increase when compared to the previous year. This March Alabama's median price rose to $118,280, which is over a 6% jump over March 2011 and nearly a 10% increase from this February. Historically, according to the Alabama Center for Real Estate, March sees only a 1.4% bump over February every year.
September 2011 was actually Alabama's last year-over-year increase in the medium home price, and it was only a mere .6% over September 2010.
Over the past couple of years the home price statistics had been somewhat skewed by both increasing foreclosures as well as federal tax incentives. Since the real estate market has been improving in 2012, foreclosure have declined somewhat and prices are stabilizing. This has also been the first year in a while where comparative data has not been effected by government sponsored tax programs.
For more information on the homes for sale at Ross Bridge, contact us here today!
This entry was posted on Wednesday, April 25th, 2012 at 12:55 pm and is filed under Alabama Home Sales. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.