The Birmingham, Alabama housing market
Posted in Market News on July 26, 2023
According to Redfin, “The Birmingham housing market is somewhat competitive. Homes in Birmingham receive 2 offers on average and sell in around 40 days. The median sale price of a home in Birmingham was $205K last month, down 3.3% since last year. The median sale price per square foot in Birmingham is $121, down 11.0% since last year.”
Also, according to Redfin statistics, nearly ¼ of home buyers who lived in other locations searched for Birmingham houses. Interestingly, Pittsburgh, Pennsylvania was the city where most outside searches came from. What does the rest of this year’s housing market look like?
The Birmingham housing market forecast for this year.Birmingham’s housing market is calmer than it has been in the last few years, but it’s still going steady. We can attribute that to the affordability of the city, the amenities it has to offer its residents, and its way of life. Hill Weathers, a Birmingham real estate agent, says, “Birmingham is a wonderful city with so much to offer, but still has a smaller town feel within each of our distinct communities.”
However, it’s difficult to predict what will happen with the Birmingham housing market during the rest of the year, due to economic uncertainties. Inflation and high interest rates on mortgage loans are already putting a damper on sales, although the market is still healthy.
A recession this year is very possible. According to U.S. News and World Report, “In an article published in mid-April, the Conference Board think tank said it expects a recession ‘starting in mid-2023' after increasing economic weakness, with the second quarter expected to be the first of three consecutive negative-growth quarters for GDP this year.”
A reputable cash house buyer is a good option in uncertain economic times.If you want to sell your house this year, you may want to consider selling it to a good house-buying company. We Buy Ugly Houses® is one of the premier companies that buy houses for cash in Birmingham, and we’ve been doing so for decades. Selling to us is convenient, fast, and eliminates a lot of the stress of selling the traditional way through a real estate agent. When you sell to us, you can skip the typical hassles that go along with selling your house the conventional way.
Perhaps the most alluring factor in selling to us is that you don’t have to make any repairs or updates to your house to get it ready for the market. We buy houses “as is.” You don’t even have to clean. If there are items in the house that you don’t want anymore, just leave them behind when you move, and we’ll take care of them.
Another major benefit of selling to us is the fact that there are no commissions. Current real estate commissions are running around 6%, and that can add up to thousands of dollars taken out of your house’s sale profits. We also pay typical closing costs.
A fast sale and fast closing are another advantage of selling to We Buy Ugly Houses. With us, you don’t have to find a real estate agent, and you can avoid all the time that your house would be on the market with a traditional sale. According to Realtor.com, “On average, homes in Birmingham, AL sell after 48 days on the market.” It typically takes around 50 days to close on a house. When you sell to us, you can save all that time and have cash from your house sale in a fraction of the time.
Why We Buy Ugly Houses® is America’s #1 home buyerWe Buy Ugly Houses is one of the preeminent companies that buy houses for cash in Birmingham and the country. We’ve been in business for decades—since 1996—and during that time we have learned how to provide the best customer service to our clients and how to navigate around a wide variety of house-selling problems, including foreclosures, inherited houses, and probates.
We’ve bought thousands of houses, and our customers give us great reviews. Additionally, we have a 96.1% satisfaction rate across the nation, and we always put the customer before the transaction. We make selling easy!
Simply contact us for a consultation. One of our friendly, local property specialists will visit your house, do a walkthrough, and answer your questions. We can often give a fair cash offer on the spot. If you accept the offer, you can look forward to a speedy and stress-free transaction. We can often close in as little as three weeks. We’d love to talk to you. Call us at 866-200-6475 today!