Of the homes listed for sale in May, 1,236 were sold, a nine percent increase from April, but a 1.5 percent decrease from a year ago.

Bryan Davis
Reporter- Birmingham Business Journal

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Supply continues to be an issue in Birmingham’s residential market, with the number of homes listed for sale during the month of May dipping slightly from April and 5.8 percent from a year ago.

According to May residential data from the Alabama Center for Real Estate, the 7,462 homes listed for sale in the metro area was a 22.2 percent dip from the average between 2009 to 2013 (9,595).

Inventory has been a continuous problem for the residential sector nationwide as some areas have seen “unhealthy” home price increases, the National Association of Realtors has pointed out.

Of the homes listed for sale in May, 1,236 were sold, a nine percent increase from April, but a 1.5 percent decrease from a year ago.

The median sales price for the metro was $173,700 in May, up 8.6 percent from April and 0.5 percent from a year ago. That median price is up 11.1 percent from the average between 2009 to 2013 ($156,370).

The average sales price jumped four percent month-to-month to $207,939. The price was slightly lower than last year’s $210,592.

The average days on the market was 82 for May, down 29.3 percent from April and down 1.2 percent from a year ago.

Bryan Davis covers real estate, retail and manufacturing for the Birmingham Business Journal. Click here to follow him on Twitter.