Birmingham-area home sales jump 28% in February

Birmingham-area homes sales rose 28 percent in February over the previous month, according the Birmingham Association of Realtors.

Compiled with data from the Birmingham Area Multiple Listing Service, the area saw 725 homes sold last month, up 28 percent from January, but down 26 percent from February 2008.
Average price decreased 4 percent to $171,062 from a year ago and median price decreased 15 percent.

Without foreclosure sales in the area, average price for the month would have been $230,983, said the association in a news release. The average price of a foreclosed home in the area last month was $78,044.

Inventory of homes for sale is still headed in the right direction. Inventory totaled 10,475 in February, compared to 11,919 a year ago.

Year-to-date sales were down 30 percent compared to the first two months of last year, while average price decreased 13 percent and median price decreased 15 percent.

For the month, the southern portion of the city had the most sales, with a total of 310 sold. That was followed by the eastern portion with 215, the western portion with 147 and the northern portion with 53.


Birmingham Business Journal - by Lauren B. Cooper Staff