While home sales continue to rise and housing inventory levels continue to decrease, more prospective home buyers searching for Birmingham homes for sale are seeing the signs that new homes for sale in Birmingham are still in high demand, and are deciding to take advantage of the current housing market and purchase.
New home sales rose in Birmingham by 17% from May to June, causing total housing inventory levels to go down in June by 21%, compared to the same time in 2011. Dollar sales had a 12% increase from May and a 13% increase from June of last year. The average sales price for new homes sold rose from $245,504 in May to $254,236 in June. New homes in the Birmingham area had an Average Days on Market (DOM) of 185 during the month of June, compared to 215 DOM in May.
The absorption rate for new homes, as well as an improving sales pace, shows strong indications of an increasingly improving Birmingham housing market.