When people dream of vacation homes, oftentimes they cut themselves off quickly, thinking they would never be able to afford one. However, new research by the National Association of REALTORS® shows that is probably not the case. While vacation homes are obviously a big investment, they aren’t out of reach for those under the six-figure salary mark. According to NAR’s 2015 Investment and Vacation Home Buyers Survey, the median household income for those who own a vacation property is $94,380, only about $15,000 more than the median income for those who own their primary residence ($79,650). And if you thought buyers needed cash to buy it, think again—70 percent of vacation homes purchased last year were financed with a mortgage. Considering buying a vacation home? Start your search here!

Take a look at May 2015's real estate sales statistics.

Midtown Montgomery real estate sales statistics for May 2015, show the number of homes decreased 10%. The average sales price decreased by 15.71% to $118,566 for the month. The median sales price decreased by 21.59% to $96,250, and market times increased by 15 days.  The highest selling price decreased by 48.03% from May 2014.

Midtown Montgomery  May 2015   May 2014
Homes Sold 44 40
Average Selling Price $118,566 $140,671
Median Selling Price $96,250 $122,750
Days On The Market 148 133
Highest Selling Price $330,000 $635,000
Lowest Selling Price $1 $9,249


For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.

Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.