Midtown Montgomery Real Estate Market Trends - January 2012
2012 is off to an encouraging start. Mortgage rates have remained under 4% for nearly two months. Home sales are strengthening and pending home sales, a measure to gauge future sales, are at their highest levels since March 2010.
Job growth increased during most of 2011, with unemployment dropping to 8.4%. As more people are getting jobs, consumer confidence has also been increasing. However, underemployment with a rate of 18.1% continues to be a problem for a stronger recovery. There are still a significant number of people working part time, who would like to have full-time work.
Even with substantial national improvements, the recovery is spotty. Payroll jobs were up in 25 states, but down in 24, demonstrating the delicate state of the U.S. economy. Global factors such as the European debt crisis are also complicating a more robust recovery.
What does the recovery look like in our local real estate market? Take a look at January figures.
Midtown Montgomery real estate sales statistics for January show the average sales price decreased by 3% to $141,407 when compared to January 2011. The number of homes sold increased by 39% in January 2012. The median sales prices increased by 1%, and market times decreased by 11% or 18 days. The highest selling home price increased by 38%, and the lowest selling home price decreased by 31%.
| Midtown Montgomery | Jan 2012 | Jan 2011 |
| Homes Sold | 28 | 17 |
| Average Selling Price | $ 141,407 | $ 145,709 |
| Median Selling Price | $ 124,450 | $ 122,850 |
| Days On The Market | 140 | 158 |
| Highest Selling Price | $ 785,000 | $ 487,000 |
| Lowest Selling Price | $ 9,000 | $13,000 |
Search all Montgomery AL Real Estate And Homes For Sale.
Sandra Nickel and the Hat Team have distinguished themselves as leaders in the Montgomery AL real estate market. Sandra assists buyers looking for Montgomery real estate for sale and aggressively markets Montgomery AL homes for sale. Sandra is also an expert in helping families avoid foreclosure through short sales and is committed to helping families in financial hardship find options. For more information you can visit AvoidForeclosureMontgomery.com.
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