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2008 Montgomery Real Estate Sales Statistics

Tuesday, January 27, 2009
by The Hat Team
After holding fairly stable for a year, pending home sales declined in the face of job losses and an eroding economy, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in November, fell 4.0 percent to 82.3 from a downwardly revised reading of 85.7 in October, and is 5.3 percent below November 2007 when it was 86.9. The current index is the lowest since the series began in 2001.

Lawrence Yun, NAR chief economist, said a weakening was inevitable. “Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November,” he said. “December’s housing market activity could be comparably lower due to ongoing problems in the economy, so a real estate-focused stimulus plan is urgently needed.”

Let’s take a look at the sales statistics for 2008 to see how the Montgomery AL real estate market looks:

Montgomery real estate saw pending sales decrease by 18% in 2008 compared to 2007.  The average sales price dropped 4% to $143,536 while sold listings were down 27% from 2007.  Market times showed a decrease by 4 days over 2007.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
 2008
553
405
89
$143,536
2007
678
556
93
$150,089

The good news is that buyer activity has increased substantially the fist two weeks in January.  This will result in stronger sales and, hopefully, indicate a turnaround.

For the latest Montgomery AL 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.

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Montgomery Real Estate Sales Statistics - November 2008

Tuesday, January 27, 2009
by The Hat Team
Pending home sales eased against a deteriorating economic backdrop but remain in a stable range, according to the National Association of Realtors®. 
 
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8.

Lawrence Yun, NAR chief economist, said a review of the past year is instructive. “Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range,” he said. “We did see a spike in August when mortgage conditions temporarily improved, which underscores two things – there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market.”

Let’s take a look at the sales statistics for November 2008 to see how the Montgomery AL real estate market looks:

This Novmember, Montgomery AL saw market times decrease by 16 days, when compared to November 2007.  Pending sales have decreased 11% in November 2008 from November 2008.  The average sales price dropped 22% to $115,405 while sold listings were down 30% from November 2007. 

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
November 2008
40
21
71
$115,405
November 2007
45
30
87
$148,420

Once again it is important to note the impact of foreclosure resales on overall statistics. As of today, 50% of the pending sales in Midtown are foreclosures that average $43,261. When the value of these sales is deducted from the overall pending sales data, the average sales price of the other pending sales is $174,432---a marked increase over 2007! Clearly, foreclosures continue to dilute sales price averages but non-foreclosure sales continue to gain ground.

For the latest Montgomery AL 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.

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Montgomery Real Estate for Sale: 22 Monroe Street

Wednesday, January 21, 2009
by The Hat Team
Montgomery Real Estate for Sale:
22 Monroe St. #4B, Montgomery, AL 36104
MLS 260551

Be a trendsetter! Lead the way to downtown Montgomery living and be the first to own a loft in the historic Montgomery Fair building. Your friends will envy you this true loft style condo with brick and rough plaster, concrete floors, exposed pipes, etc...still raw enough for you to customize. Amazing view up Coosa St to riverfront, and from back door all the way up to Cottage Hill. Upgraded surfaces, fixtures and hardware. A true lock-it-and-leave-it opportunity within walking distance of scores of places to go and things to do.
Learn more about 22 Monroe Street and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate For Sale: 2421 Noble Wood Court

Monday, January 19, 2009
by The Hat Team

Montgomery Real Estate For Sale:

2421 Noble Wood Court, Montgomery AL 36117
MLS 261130
Price Reduced. A real Cream Puff. Just spruced up with fresh paint throughout, new carpet and restained cabinets. A great open floor plan with 11' ceilings in most of the house. A sun room has been added plus a covered patio. In the back yard is a beautiful rose garden that soon will need someone loving care. Let's not forget the sprinkler system to make the yard maintenance much less to maintain. This house is move in ready and has already been inspected so don't miss out before it's sold.
Learn more about 2421 Noble Wood Court and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate For Sale: 307 Felder Avenue

Monday, January 19, 2009
by The Hat Team

Montgomery Real Estate For Sale:

307 Felder Ave. Montgomery, AL 36104
MLS 261086
Completely remodeled inside and out! This wonderful Garden District bungalow has just been meticulously renovated by one of Montgomery's premier builders, Distinctive Homes. Gleaming hardwood floors, new bathrooms, and a completely brand new kitchen with custom cabinets and appliances. The real beauty of this place is the awesome deck and pergola out back. Private courtyard style backyard is freshly landscaped and is ideal for entertaining. If you saw this one 6 months ago, you owe it to yourself to come back and take another look at the new and improved!
Learn more aobut 304 Felder Avenue and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate For Sale: 2220 Felder Terrace

Sunday, January 18, 2009
by The Hat Team
Montgomery Real Estate For Sale:
2220 Felder Terrace, Montgomery, AL 36106
MLS 261094

 
Looking for low maintenance, lock-it and leave-it, and move-in condition? Look no further! This Old Cloverdale charmer has been totally updated to include brand new custom kitchen with stainless appliances and granite countertops. Spacious rooms and gleaming hardwood floors downstairs are perfect for entertaining, and you'll love the New Orleans style brick courtyard out back. Professionally landscaped front yard adds to the appeal, and all this within walking distance to the Cloverdale entertainment district. Check this one out before someone else beats you to it!
Learn more about 2220 Felder Terrace and other Montgomery real estate by visiting HatTeam.com.
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Montgomery Real Estate for Sale: 2632 Boultier Ave

Sunday, January 18, 2009
by The Hat Team
Montgomery Real Estate for Sale:
2632 Boultier Ave #B, Montgomery, AL 36106
MLS 261089

Condo living at its best. This 4-unit complex is located just a short walk from the business Hub of Old Cloverdale and Huntingdon College campus. A few of the amenities include parquet floors, fire place, downstairs master bedroom, good storage, and a private courtyard. Smooth Move inspection is available. Price reflects the fact that minor cosmetic improvements need to be done. Put this first on your list to see.
Learn more about 2632 Boultier Avenue and other Montgomery real estate by visiting HatTeam.com.
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Let's Fix Housing Now!!

Thursday, January 15, 2009
by The Hat Team

The National Assn of Homebuilders has representatives in Washington DC today pressing for passage of a bill, "Fix Housing First." I'm behind it and encourage you to get behind it as well. In a nutshell, the two key provisions are:

(1) The federal government would offer a tax credit of between $10,000 and $22,000 (depending on locale) to anyone closing on the purchase of a home, new or resale, by December 31, 2009. The credit would not have to be repaid, which is a major upgrade from a tax credit passed last summer; and

(2) The government would provide a federally-subsidized 30-year fixed rate mortgage of 2.99 for all home purchases, new and resale, closing by June 30, 2009. After that, the rate would be 3.99 for purchases closing by December 31, 2009.

Visit

Let's get housing fixed now!

www.FixHousingFirst.com for full details and a direct link to your Senator and Representative.
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Montgomery Real Estate: Regulatory Reform Expected With Obama Presidency

Friday, January 9, 2009
by The Hat Team

Montgomery Real Estate: Regulatory Reform Expected With Obama Presidency

The upcoming presidential transition comes at a time of great challenges within the housing industry and the economy at large. Consequently, many are wondering what a Barack Obama presidency will mean for real estate and housing issues.

National Association of Realtors analysts expect the Obama administration and the new Democratic-controlled Congress to focus on regulatory reform of the financial services industry, with potential changes to Fannie Mae and Freddie Mac.

This fall, Obama responded to Realtor® Magazine’s questions about the mortgage crisis, sustainable development, housing affordability and other topics. Read the interview.

to learn more about Montgomery real estate, please contact us at 334-834-1500 or visit HatTeam.com. 

Begin searching for Montgomery real estate and homes for sale.  
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Montgomery Real Estate and Homes For Sale: 3475 Cloverdale Road

Thursday, January 8, 2009
by The Hat Team
Montgomery Real Estate and Homes For Sale:
3475 Cloverdale Road,  Montgomery AL 36111
MLS 260662

Wonderful 1950's contemporary architecture in Montgomery's historic Cloverdale!! This split-level has tons of space on 3 separate levels allowing you and your family to spread out! Architectural features include slate floors, vaulted ceilings, secret pass-thru, and wood accents! Big updated kitchen has tons of storage. There are also GREAT outdoor areas such as a private patio off the dining room and a large fenced back yard for the family pet! Lower level perfect for teen or in-law suite and has private entrance.
Learn more about 3475 Cloverdale Road and other Montgomery real estate by visiting HatTeam.com.
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Displaying blog entries 1221-1230 of 1241

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