Thursday, April 23, 2009, 5:05pm CDT | Modified: Friday, April 24, 2009, 1:26pm
Local home sales rose 29 percent in March
Birmingham Business Journal - by Lauren B. Cooper Staff
Alabama home sales rose nearly 29 percent in March over the previous month.
More than 3,200 homes sold in the state last month, said the Alabama Center for Real Estate’s monthly report. That’s a 28.8 percent increase from February, but a 19.5 percent decrease over March 2008.
Year-to-date home sales dropped 26.6 percent to 7,744.
March’s average selling price was $137,980, which is an increase from $130,788 in February and a decrease from $154,959 in the same month last year.
Inventory increased more than 1 percent in Alabama to 40,492 during the month. But that’s down 5.5 percent from last year.
The center said the inventory-to-sales ratio, or the pace it would take to deplete the state’s current supply of homes for sale, was 12.6 months.
http://birmingham.bizjournals.com/birmingham/stories/2009/04/20/daily38.html?surround=etf
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