Alabaster, AL home sales by the numbers- A look at 2013 vs. 2012

Alabaster, AL home sales by the numbers- A look at 2013 vs. 2012

Home sales in Alabaster, AL during 2013 showed a lot of positive direction over 2012. Alabaster is located in Shelby County Alabama, one of the fastest growing counties in the state, and about 30 minutes south of Birmingham. It provides convenient access to many locations around the Birmingham metro area and offers good affordable housing. I thought I would share some facts, so lets take a look.

1) We saw a 7% increase in Median Sales Price for 2013 over 2012’s median sales price of $135,000.

2) The Average Sales Price also increased by approximately 7% in 2013 from 2012’s average sales price of $143,000, even though this statistic is affected by extreme highs and lows.

3) A decrease of 25% in Short Sales and Foreclosures helped contribute to the increase in both Median and Average Sales Price. These distress sales went from 125 in 2012 to 94 in 2013 and because these homes typically sell for less and there were less of them the average and median sales price increased.

4) A reduction in inventory levels helped owners sell their homes quicker with a 23% decrease in Days on Market, going from 96 in 2012 to 74 in 2013. With lower inventory buyers had less to choose from, and this helped the homes that were listed sell quicker.

5) As you might expect, since median and average sales price were more in 2013, the Total Dollar Sales Volume also increased by approximately 17%.

6) As I noted previously inventory levels decreased so there was less choice for buyers, and this resulted in a slight increase of 1% in the Sale Price to List Price ratio.

7) The Total Number of Home Sales went from 315 in 2012 to 344 in 2013, which was a 9% increase. This increase in demand is a good sign for the housing market.

8) The Months of Inventory decreased by 23% from 2012 to 2013. The months of inventory is the amount of time it would take to sell off the existing inventory if no more homes were added, and is based on the rate of sales of the previos 12 months.

As you can see 2013 was a much better year than 2012 in several different home sale categories. By taking a look at these different statistics we can gain a better understanding of how the market is performing. What are your thoughts? Oh, in case you were wondering the red and black colors for my graphic reflect the school colors for Alabaster.

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