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Days on the market falling nationwide and in Alabama

Days on the market falling nationwide and in Alabama

Industries: Residential Real Estate

Markets: Birmingham Metro, Huntsville-Madison County, Statewide, Tuscaloosa Area

The average number of days a home stayed on the market nationwide during April dropped to an all-time low of 29, according to a recent report from the National Association of Realtors. 

NAR has been tracking days on the market since 2011 and said last month's pace beat the previous low of 32 days recorded last May. 

Click here to read the Alabama Center for Real Estate's full Statewide Housing article on Alabama Newscenter

Meanwhile, Alabama's average days on the market during April stood at 135, an 8.2 percent drop from last year's 147. The average days on the market in Alabama has dropped every year since 2014, when it was just over 160 days. 

Click the image above to read the full ACRE Statewide Residential Report for April 2017

The average number of days on the market in Birmingham was much lower at 62 days during April. 

This represents a 17 percent drop from last April's 75 days on the market. The average number of days a home stayed on the market in Birmingham in 2011 was 118, the metro's peak. 

 

Click the image above to read the entire ACRE Birmingham Residential Report for April 2017

The number of days on the market in Tuscaloosa during April was 78, down 15 percent from last April's 92 days on the market. 

The five-year average from 2012-16 for Tuscaloosa was 102, and last month's average was significantly lower than the 2009 peak of 127 days. 

Click the image above to read the entire ACRE Tuscaloosa Residential Report for April 2017

In Huntsville, the average number of days on the market hit 92, 4 percent faster than last year's 96 days on the market. 

This was also significantly lower than the 2014 peak of 123 days. 

Click the image above to read the entire ACRE Huntsville Residential Report for April 2017

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Advancing Relationships.