Here's a mid-year update for the Birmingham real estate market.
We’re six months into 2021, and the real estate market in Birmingham has been really robust so far. Here are a few stats to emphasize how robust the market has been.
In the first six months of 2021, in Jefferson County, home sales have been up 20%, home prices are up 16%, and the average home price is now $309,000. In Crestwood North, home sales are up 50%, home prices are up 17%, and the average home price is now $322,000. We have to take into consideration that the first six months of 2020 were slow due to COVID. However, even from 2019 to 2021, we’re still up 25%.
In Jefferson County, homes’ average days on market was 22 days. In Crestwood North, it was 17. You might think that seems like a long time, but there are some outlier houses that are either overpriced or improperly staged and sit on the market for months. They skew these numbers a bit.
Traditionally, six weeks is a reasonable amount of time for a house to be on the market. When we looked at homes that sold in six weeks or less, they spent an average of seven days on the market in Jefferson County and five days in Crestwood North. In the first six months of 2021, we sold 77 homes. 25 of those 77 homes sold in one day or less, so buyers need to get to homes they’re interested in and take a look right away.
If you have any further questions or if you’re interested in buying or selling, please feel free to reach out to me by phone or email. I’m happy to help you in any way I can.