Market Report May 19, 2014

Market Update: AHRE Record Breaking Month for April/ Statewide First Quarter Sales Highest Since 2008

Great news to share! Amanda Howard Real Estate had a record breaking month in April for real estate closings with 49 transactions! This included 24 buyers (6 new construction) and 19 sellers.

Statewide, Alabama residential sales for the first quarter gradually continued to improve, with a slight increase compared to the same period last year. Total sales of 9,120 units represent the BEST first quarter since 2008-that’s 6 years!

First quarter sales in 2014 increased by nearly 10 percent from the most recent 3-year average and close to 13 percent from the 5-year quarterly average.

We saw 10.4 months of housing supply during this year’s first quarter in 2014. Historical data indicates that this is a decrease of over 20 percent from the 5-year average and over 16 percent from the 3-year average.

The statewide median sales price during the first quarter was $122,132, which is an increase of over 6 percent from the same quarter in 2013. Historical data indicates that first quarter median price in 2014 increased by 6.4 percent from the most recent 3-year average and 5.3 percent from the 5-year quarterly average.

As you can see, we are experiencing a healthy real estate market so far this year. Thank you for tuning into Monday Morning Coffee and remember, if you who would like to buy or sell your home-don’t waste any time. Contact us today! Call us at 256-799-9000 or find us online at AmandaHowardRealEstate.com or AmandaHoward.com.