Little change is expected in Montgomery AL real estate sales of existing homes over the next few months, before notably improving during the second half of the year, according to the latest forecast by the National Association of Realtors.

 

Lawrence Yun, NAR Chief Economist, said the market will come into clearer focus this summer.  “Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure,” he said.  “The wider access to affordable credit should increase sales activity notably this summer as pent-up demand begins to be met.”

 

Let’s take a look at the midtown Montgomery AL real estate market activity for this March to see how the spring is looking so far: 

  

The Midtown Montgomery market experienced a slowdown in activity this March, when compared with March 2007.  Pending sales were down by 43%, while sold listings decreased 15%.  Average market times decreased by 5 days and the average sales price decreased by 10% to $129,629

Midtown
Montgomery

Pending
Listings

Sold
Listings

Average
Market Times

Average
Sales Price

March 2008

41

97

97

$129,629

March 2007

72

54

102

$144,782

A decline both in the number of homes for sale and the length of time it's taking to sell them should indicate that we are at or near the bottom of our "small dip" in activity.

 

Now is a great time to buy or sell Montgomery AL real estate.  To get started looking at homes, please visit HomesForSaleInMontgomeryAlabama.com or search the MLS here.  For more personalized service, please call me at 800-HAT-LADY.


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