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Displaying blog entries 21-26 of 26

Midtown Montgomery Real Estate Trends - Dec 2010

Friday, January 21, 2011
by The Hat Team

The 2011 real estate market forecast depends on who you talk to. There are conflicting signs but most experts predict a slow growth in sales nationwide. Real estate guru Barbara Corcoran has this to say about buying a home in 2011:

“Of course people are nervous about buying with so many mixed signals, but my advice would be: Do not wait. If there's one thing I learned about this real estate is that it's very slow to unwind and usually takes years to do it. But once it decides to turn around, those prices move up very quickly, and you'll just be joining every Tom, Dick and Harry bidding on the same house. If you have an inclination to move, you'll get no better time than now, with cheap money, cheap prices and an embarrassment of riches to choose from. Why wouldn't you buy now if you were so inclined?”

The only way to know when you are at the bottom of the market is when you bounce off of it. We bounced in December!

Let’s compare December 2010 to 2009 real estate statistics to see what improvement has taken place in our local market.

Midtown Montgomery real estate sales statistics for December show the average sales price increased by 2% to $142,814 when compared to December 2009.  The number of homes sold decreased by 3% in December.  The median sales prices increased 5% and market times decreased 1% or 1 day.

Midtown
Montgomery
 December 
2010		 December
2009
Homes Sold
 29 30
Average Selling Price $142,814 $140,690
Median Selling Price $125,000 $118,750
Days On The Market 122 123
Units On the Market 2,969 2,969

For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Midtown Montgomery Real Estate Sales Statistics - January 2010

Friday, February 19, 2010
by The Hat Team

Home sales surged in the fourth quarter of 2009 with many areas seeing double digit gains according to the National Association of Realtors. Total existing-home sales (single-family and condo) jumped 13.9 percent above the third quarter and 27.2 percent above the fourth quarter of 2008. Distressed property sales accounted for 32 percent of the fourth quarter transactions, down from 37 percent from 2008.

Lawrence Yun , NAR chief economist, said the first-time home buyer tax credit, combined with record low interest rates, played a dominant role in fourth quarter sales. Yun went on to say, “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”

Let's look at January real estate sales to see how the housing recovery is progressing in Midtown Montgomery.

Midtown Montgomery Real Estate Sales Statistics - January 2010

Midtown Montgomery real estate sales statistics for January show pending sales have increased by 21% in 2010 compared to January 2009. The average sales price increased by 25% to $104,275 while sold listings were up by 23% from 2009.  Market times were 9 days less than 2009.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Jan 2010

43

31

85

$104,275

Jan 2009

34

24

94

$78,109

For the latest Midtown Montggomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.

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Upturn In Sales Predicted

Thursday, June 21, 2007
by The Hat Team

"Home sales are projected to move in a relatively narrow range with a gradual
upturn becoming more pronounced by the end of the year according to the latest
forecast by the National Association of Realtors. Overall housing levels are
historically strong, but sales remain sluggish compared to the recent boom." 

However, May statistics show the Midtown Montgomery real estate market
to be holding its own, but with soft prices.  The number of single family homes 
in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between
Exits 1 and 6) that sold in May, increased by 1 home or 2 percent.  At the same
time, the number of pending listings decreased by only 20 homes or 20 percent. 

Market times in May 2007 rose with market times of 127 days vs. 106 days in 
May 2006.  The average sales price decreased $7,665 or 5 percent compared
to May 2006.

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

May 2007

79

66

127

$148,076

May 2006

99

65

106

$155,741

The slight moderation of prices is good news for buyers, making this a great time
to buy or sell real estate in Midtown Montgomery! Buyers do need to keep in mind
buying a home is a long-term investment, which will build a nest egg over time.

Are you thinking of buying a home in Montgomery? You can have new listings
e-mailed to you as they hit the market by visiting
EmailMontgomeryAlabamaHomes.com

 

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate
but not guaranteed. 
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Alabama Home Sales Rise

Friday, April 6, 2007
by The Hat Team

Alabama's existing home sales increased in February by 14.7 percent with 4,069 homes sold, according to The University of Alabama's Real Estate Research and Education Center.

The average prices also rose in February to $155,632, an increase of 3.3 percent from the previous month. There were 36,702 homes listed on the market in February, representing a nine-month supply of homes in Alabama.

There are many more homes for sale  this year than last year, but the market appears to be able to handle the growth. This year is starting out to be another solid year for home sales in Alabama. 

Midtown Montgomery market statistics can be found on our website.

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Will Subprime Mortgage Market Effect Midtown Montgomery Home Buyers

Friday, March 23, 2007
by The Hat Team

The problems with the subprime mortgage market has been in the news lately with much speculation as to the effect this industry's woes will have on the real estate market and the economy as a whole.

Here is what the Wall Street Journal reported 3/12/07:

"Federal Reserve Chairman Ben Bernanke and many other economists do not expect troubles in the subprime mortgage niche to impact the overall national economy, citing a low unemployment rate and income gains. Additionally, they point to data from the Labor Department indicating that only 8 percent of consumer spending is tied to the lowest-income Americans, who make up the bulk of subprime borrowers. However, the U.S. economy could suffer if investors and lenders begin shrinking the amount of credit available to prime borrowers--a scenario that sparked previous recessions. Furthermore, rising subprime foreclosures could worsen the housing downturn, with Lehman Brothers chief U.S. economist Ethan Harris anticipating a monthly increase in inventory of as much as 20,000 homes in 2008. California, Florida and other overheated markets--as well as Ohio, Michigan and others plagued by the downturn in manufacturing--would be hit the hardest."

Need a mortgage to buy your new home? Contact us at 800-428-5239. We will refer you to a reputable, reliable and consumer friendly lender.

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Midtown Montgomery Real Estate Market Report

Friday, March 16, 2007
by The Hat Team
Buyers It's Time To Buy!

FreddieMac.com reports interest rates have been inching down for the past three weeks. This is icing on the cake for Midtown Montgomery home buyers who are benefiting from a moderately slower housing market. Sellers haven't been left out in the cold, however, as prices continue to rise. Take a look at the numbers. 

The number of single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits 1 and 6) that sold in February increased by 8 or 20%!  And the number of pending listings decreased by only 3 homes or less than 2%. 

What's more, February 2007 saw market times of 169 days vs. 188 days in February 2006.  So demand is increasing along with prices. And average sales prices increased $24,140 or a whopping 17%. So it appears 2007 is well on its way to being another great year for Midtown.  

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

February 2007

46

40

169

$165,071

February 2006

49

32

188

$140,931

Sellers are becoming more comptetitive in their pricing to attract today's ready, willing, and able buyers. Add to this the interest rates inching down...Buyers, it is time to buy!!

If you are thinking of buying a home? You can get a daily email list of new homes for sale as they hit the market by visiting EmailMontgomeryAlabamaHomes.com. It is fast, easy and FREE! 

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed. 

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