This news from the Birmingham Board of Realtors. While our data calculations are slightly different the basic trends are identical to what we reported earlier. There are some other useful observations here.
Home sales drop 27 percent in Birmingham area
Birmingham Business Journal – by Lauren B. Cooper Staff
Moderate decreases in average home prices and a dwindling inventory of homes provides a bright spot in the Birmingham residential market, as a local group reports down sales numbers.
According to the Birmingham Association of Realtors, year-to-date home sales in October dropped 27 percent, compared to the same time period last year.
The average price fell 4 percent year-to-date to $190,781, compared to $199,242 in the first 10 months of 2007, which the association said is significantly lower than other markets in the country.
Month-to-month, home sales dropped 30 percent compared to October of last year. Average price dropped 12 percent to $168,073 and total inventory dropped 15 percent to 11,360 area homes for sale.
In October, the southern portion of the metropolitan area saw the most sales, with a total of 333. That’s compared to 515 sold in that area in October 2007.
That was followed by 265 sold in the eastern portion of the city, 167 in the western portion and 61 in the northern portion – all less than area sales in the same month last year.