Birmingham Metro Home Sales Increase From May 2020

BIRMINGHAM, AL — Home sales in the Birmingham metro in May of this year saw a 33 percent increase over May of 2020, according to the Alabama Center for Real Estate.

A report by ACRE showed May home sales in the Birmingham area increased year-over-year from 1,297 to 1,725 closed transactions, marking 12 consecutive months of year-over-year gains. Not following seasonal trends, sales decreased 2.9 percent from April.

Sales are now up 25.5 percent year-to-date.

Homes listed for sale decreased 43.3 percent year-over-year from 4,614 listings one year ago to 3,026 in May. Months of supply (inventory to sales ratio) decreased from 3.6 months to 1.8, reflecting a market where sellers generally have elevated bargaining power, according to the ACRE report.

The median sales price in May was $269,900, an increase of 10.6 percent from one year ago and an increase of 3.8 percent from April. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing.