Montgomery, AL Area Home Sales Report

May 29th, 2009 categories: Market Reports, Montgomery

sign-that-reads-for-saleDid you see this article in the Montgomery Advertiser a few days ago?   Click on the following title to read the entire article:  Montgomery Area Home Sales Continue to Fall.

It reports that “home sales in Montgomery area declined for the 24th straight month in April, but the number of houses on the market dropped to one of the lowest levels in more than two years.”

So what’s that mean for us?  Well, we have to start beating prior year’s sales in order to have prices rise again.

I read a really good article on a Better Homes & Garden’s home blog about this subject. A guy named Nikolai Kolding studied sales from across the country, over a decade or so and concluded that rises or falls in average home prices were preceded by rises / falls in # of homes closed.

home-for-saleThe number of sales was compared by seeing if, for example, April 09 beat April 08 in number of homes sold. That, to me, is a critical finding, and it is something that you can apply locally. So many of these macroeconomic statistics are hard to apply to the Montgomery area, but I am watching current year vs. prior year very closely.

Check back soon for the most recent Montgomery Area MLS “sold” statistics.  If you’d like more conversation about this topic, comment below or give me a call at the number at the top of the page. I’d love to talk about with you, and I’d love to help you with the home-buying process.