Today’s Real Estate Report – Alabama

Alabama mapAt Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas. If you have a gay real estate story that you’d like to share with us, contact us at info@2016.gayrealtynetwork.com. Today, in our ongoing series about local real estate markets, we’ll take a look at home sales and trends on Alabama.

Home sales across a four-county region in metro Birmingham totaled 776 during February, a 3 percent rise from a year ago. The data, issued today by the Birmingham Association of Realtors, also shows price increases. The average price was $178,397, up 14 percent from February 2012, while the median price rose 6 percent to $142,950. Price improvements could be related to a declining number of low-priced foreclosure sales. While there were 229 such sales during February, or 30 percent of total sales, that’s down 24 percent from the 302 foreclosure sales in the year-ago period.

On the other hand, CBS 42 reports that Birmingham home values are down:

A report by CoreLogic shows home values in the Birmingham metro area are down. The numbers do not reflect national prices. Across the country, the value of homes jumped 9.7% from January 2012 to January 2013. That is the largest year-to-year increase the country has seen since April 2006. Month-to-month gains were more modest. Between December 2012 and January 2013 prices rose 0.7%. Initial CoreLogic numbers indicate February home prices will mirror those from January due to a seasonal winter slowdown.

Over in Mobile, real estate sales jumped 24% in February, AL.com reports:

Mobile Area residential sales reached 281 units in February, an improvement in sales growth of 24.9 percent from last February. Year-to-date, residential sales through February are up a healthy 9.5 percent.

And for the whole state, AL.com reports that home sales in the whole state were up in February:

Picking up right where the market closed in January, Alabama residential sales in February improved by 12.6 percent from the same period a year earlier. Across Alabama in February, sixty-eight percent of local markets reported on par or positive sales growth compared to last February.

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