Total sales in August declined while average and median prices rose when compared to August a year ago. Total home sales in August 2010 were 768 compared to 907 in August 2009 or a decline of 15 percent. The average price increased in August 2010 to $180,624 compared to $175,935 in August 2009 which is a 3 percent increase. The August 2010 median price of $149,800 compares with $148,500 in August 2009 or a 1 percent increase. Inventory remains steady. Mortgage rates continue at historic lows. Home affordability is up. Qualified buyers will find this a good opportunity to make home purchases.
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Total residential sales in August 2010 were 768 compared to 907 a year ago (15% decrease)
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Average price in August 2010 was $180,624 compared to $175,935 in August 2009
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Median price in August 2010 was $149,800 compared to $148,500 in August 2009
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Average days on market were 110 days in August 2010 compared to 101 days in August 2009*
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Inventory totaled 10,702 for August 2010 compared to 10,670 in August 2009 (no statistical change)
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2010 Year-to-date total residential sales are 7,006 compared to 7,035 a year ago (no statistical change)
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Year-to-date average price is $167,924 compared to $173,143 a year ago (3% decrease)
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Year-to-date median price is $142,600 compared to $145,600 a year ago (2% decrease)
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Year-to-date average days on market is 107 days compared to 110 days in 2009*
257 homes sold in August were foreclosures compared to 511 non-foreclosures for a total of 768. Foreclosure sales in August represented 33% of all sales. The average foreclosure sale price was $77,830. The average nonforeclosure price was $232,322. The average price in August was $180,624. This report compares residential sales in 2010 with 2009 as compiled by the Birmingham Area Multiple Listing Service, Inc. (MLS) of the Birmingham Association of REALTORS®, Inc. This report includes all residential sales (single family, townhouse and condominium sales) for the four-county Birmingham area (Jefferson, Shelby, St. Clair and Blount Counties). *The Days on market data in this report excludes new construction.
(1% increase)
(3% increase)
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