Alabama Residential Sales Show Impressive Improvement

The latest numbers are in, and it’s official – residential home sales in Alabama have jumped significantly! A recent article from the Birmingham Business Journal states that residential sales climbed in March, with 4,289 units sold, according to new data released by the Alabama Center for Real Estate (ACRE). The units sold represent a 33% increase from February, a 19% jump from March last year, and a 25% improvement from a five-year average of 3,426 units from 2010-2014, according to information from the article.

And we’re proud to announce that residential sales aren’t the only housing indicator that improved in March for Alabama real estate! The following indicators also showed month-over-month improvement:

· Median sales price, which increased 8% from February to $130,363

· Average sales price showed a slight increase of about 2% to $151,181

·  Inventory also showed a slight improvement from February, with 32,225 units on the market and an average of 162 days on the market in March.

Clearly, the Alabama housing market is showing impressive improvement, and we can’t wait to see where it goes in the coming months! The housing market is certainly impressive when looking at the entire state of Alabama, but the Birmingham-Hoover metro housing market is also posting encouraging numbers this spring, such as a 12% increase in residential sales in March when compared with the previous year. You can learn more about the encouraging outlook for the Birmingham-Hoover housing market this spring in our blog post here.

Here at Ross Bridge, we always love to hear the good news about both the statewide and local housing markets. The impressive housing market is just one of the reasons we love being located in the Birmingham metro of Hoover (and the state of Alabama in general!) – and there’s certainly a lot to love! An ideal location outside of Birmingham means that our Ross Bridge residents can enjoy all the best of Alabama’s most dynamic city, while also enjoying the privacy of our resort-style community.

For homebuyers who want to take advantage of the local housing market and Hoover’s ideal location, Ross Bridge is the perfect community to call home. There are three distinctive neighborhoods within Ross Bridge – Glasscott, Haddon, and Southampton – with a variety of home designs at various price points. Any homebuyer who wants to become a part of the exciting Hoover area is sure to find a new home they love in Ross Bridge!

SOURCE: Birmingham Business Journal