Midtown Montgomery Real Estate Trends - Sept 2011
A buyer purchasing a typical American home at the prevailing average mortgage rate today would have a mortgage payment of $698 a month. This figure is not much different from what a home buyer would have faced 30 years ago. In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Today, home prices have come down by about 33 percent on average from the bubble years, but prices still remain comfortably higher than those of the 1980s. However, thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced. This should be good news and bring new buyers into the market. However, very tight underwriting standards, unfortunately, are keeping some good, hard-working Americans from taking advantage of the super affordable conditions.
Now take a look at how the Midtown Montgomery real estate market performed in September.
Midtown Montgomery real estate sales statistics for September show the average sales price decreased by 14% to $143,362 when compared to September 2010. The number of homes sold decreased by 4% in September 2011. The median sales prices decreased by 5%, and market times increased 25% or 45 days. The highest selling home price decreased by 7%, and the lowest selling home price decreased by 99%.
| Midtown Montgomery | September 2011 | September 2010 |
| Homes Sold | 24 | 25 |
| Average Selling Price | $ 143,362 | $ 166,118 |
| Median Selling Price | $ 130,500 | $ 137,000 |
| Days On The Market | 179 | 134 |
| Highest Selling Price | $ 425,000 | $ 455,000 |
| Lowest Selling Price | $ 1 | $ 6,000 |
For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
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Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.
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Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.
