The Birmingham, Alabama Multiple Listing Service recently released its Alabaster and Calera, Alabama sales statistics for December of 2010. Most of the numbers are not very positive, however you do need to keep in mind that these statistics are for both areas combined and include all price ranges and property types. Individual neighborhoods will vary and some are doing better than others. It is a good “snap shot” of the general market.
As you can see all numbers are down for the following categories: New Listings, Closed Sales, Median Sales Price, and Sale Price to List Price Ratio. New listings are down, however that is not a bad thing because this helps reduce the months of inventory which, in most areas, is still experiencing an oversupply. As an extension of this reduction in new listings the single family and townhouse-condo inventory is less for 2010 than in 2009. A recent article on al.com also indicated that building permits were down for Shelby County, which lends support to the slow real estate market in this area.
This slow activity will most likely show similar characteristics into the first quarter of 2011. The decrease in median sales price is most likely caused by the inventory of foreclosures which has had a negative impact on property values. Do you have different predictions for the Alabaster/Calera market? I would be interested in hearing your take.
If you have any real estate appraisal related questions you can call me at 205.243.9304, email me, or connect with me on facebook.