Midtown Montgomery Real Estate Market Report for August 2014
While the number of for sale by owner transactions is on the decline, approximately 9 percent of sellers decide to go it alone and forego outside help from a Realtor®. Typically those that go this route have extenuating circumstances, such as already having a relationship with the buyer (which happened in 40 percent of recent FSBO sales, according to National Association of Realtors® data). However, NAR’s 2013 Profile of Home Buyers and Sellers shows that most sellers benefit from the outside help of a knowledgeable advocate when selling their home. Aside from being experts in the field, Realtors® have the time, know the market and needs of the potential buyers, bring an objective and fresh perspective to the seller, understand the complexity of all of the processes involved, and have the ability to attract qualified buyers. It’s because of these reasons that sellers using a Realtor® tend to get more for their homes, according to NAR’s report.
Let’s look at how many sellers sold their homes with a Realtor in August.
August 2014 Midtown Montgomery Real Estate Market Update
Midtown Montgomery real estate sales statistics for August 2014, show the number of homes sold decreased by 9% when compared to August 2013. The average sales price increased by 3% to $140,940 for the month. The median sales prices increased by 16% to $107,500, and market times increased by 27 days. The highest selling price increased by 40%, and the lowest selling home price increased by 14% compared to August 2013.
| Midtown Montgomery | August 2014 | August 2013 |
| Homes Sold | 29 | 32 |
| Average Selling Price | $140,940 | $136,497 |
| Median Selling Price | $107,500 | $92,000 |
| Days On The Market | 159 | 132 |
| Highest Selling Price | $830,000 | $590,000 |
| Lowest Selling Price | $11,000 | $9,640 |
For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
Information courtesy of Montgomery Alabama Realtor Sandra Nickel, Sandra Nickel Hat Team.
