Birmingham Housing Market – A great Fall Season?

by nick

in Birmingham Housing Market

Nick Pappas - @Homes Birmingham Broker

The Seasonal Slowdown

A seasonal slowdown in the Birmingham Real Estate Market is an expected and normal occurrence and this year will be no different. However the good-news is the improvement we see in the current seasonal slowdown compared with 2010 results, and thus far its looking good, at least worthy of a closer look.

As Octobers go, this past October was a great month, with 680 closings in the  Birmingham Metro-Area (Jefferson & Shelby Counties)! Birmingham Home Sales were up 35% when compared to Oct 2010 and nearly on-par with 2008 comparables. Moreover this follows a September where our local housing market out-performed the previous year as well, and this is a recent yet welcomed trend. You will notice this favorable trend line in the following chart of local home sales for the last 5 years.

 Birmingham Home Sales 2007 – 2011

Click to Enlarge

Yet 2 Months Does Not A Long-term Trend Make

Click to Enlarge

Despite the recent pleasent news we have experienced in home sales, the over-all market picture is an eye opener, to say the least. The chart to the left shows annual home sales in the Birmingham Metro Area for the last 7 years.

Our local market peaked pre-mortgage-crisis in 2005-2006, and since that time the overall housing market has shank a remarkable -40%. To put it in simplier terms the Birmingham Housing Market is now 40% SMALLER than it was only a few short years ago.

Yet given the last 2 years in may be safe to say that our local market has reached a plateau or bottom post-mortgage-crisis and is showing strong signs of stabilization, although the market is a smaller one, with dues paid. Will we return to the days and levels of 2006? Only time will tell, and its likely not in the next few years.

Regardless, you can monitor our monthly reports here by Subscribing to our Market Feed and I assure you we will be keeping you updated, for sure!

- Nick

Contact Us

Your email address will not be published. Required fields are marked *


228,069 Spam Comments Blocked so far by Spam Free Wordpress

HTML tags are not allowed.

Previous post:

Next post:

The data relating to Birmingham AL Real Estate on this Web site derive from the Greater Alabama Multiple Listing Service IDX datashare program. © 2020 Greater Alabama Multiple Listing Service, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified.

@Homes Realty Group
470 Providence Main St.
Suite 202
Huntsville, AL 35806

Phone Numbers
Cell: (205) 547-0048
Office: (205) 547-0048
Fax: (256) 217-4073

Email Address


Like us on Facebook


Follow us on Twitter


Share with us on Pinterest

Google Plus

Join us on Google+

  © 2020 @ Homes Realty Group All Rights Reserved