Birmingham Real Estate Market Update

  • 1 year ago
  • 1
Home interior

How is the market doing and when should I buy or sell?

The market is without 2,300+ properties to meet spring demand. The large decline of active properties causes a decline in total market value.

While this might seem unfortunate, the lack of supply on the market has caused the average home to increase by over $14,000.

Market Prediction: If you are thinking about selling, now is the best time.

  • Low Supply and High Demand is in favor of the seller. Less competition between sellers.
  • The Market will decline briefly after re-opening. Because there will be a massive influx of sellers that have been waiting because of the pandemic.
  • Mortgage rates are still close to zero, which means buyers have more money to spend on a home.

Governor Says Alabama will re-open April 30.

This is good news for sellers willing to list before the stay-at-home order is lifted. You will have limited competition until April 30, 2020. This helps amplify the the impact of the most important week in a home sale.

Health and Safety Measures we are practicing for clients.

  • Realtor to wear mask and gloves at all times
  • Supply of Masks Gloves and disinfectant wipes for potential buyers
  • Virtual showings to lessen foot traffic.
  • Anyone Exhibiting any flu like symptoms, dry cough, fever, chills is strictly prohibited from entering listings
  • Temperature guns available for sellers staying in home during showings.
  • Buyers are not permitted to touch anything in the home, Real estate agent to open all doors. (preferably the seller does it before showings)

It is of the utmost importance that the safety and health guidelines are followed to ensure client safety. Real estate is an essential business providing shelter to those who may not have one already. We will continue to serve our amazing community of Birmingham throughout this crisis.

Stay Safe,
Ben Hedden

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