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Midtown Montgomery Real Estate Market Trends - June 2012

Thursday, June 21, 2012
by The Hat Team

Everyone knows that the Montgomery real estate market has been rather daunting for the last several years. Ups and downs, reports of good news and bad news, short sales, foreclosures, declining inventory, increase in mortgage applications, buyer frustrations, and seller indecision—all have kept the real estate industry on a roller coaster for too long.  Hope springs eternal, however, and rays of optimism from several fronts may well signal better times ahead.

  • In a recent survey, more than three-quarters of homeowners (78 percent) said that owning a home is one of their greatest achievements, and 85 percent of U.S. adults (which includes both homeowners and renters) agreed that they always dreamed of owning a home.
  • Builder confidence in the market for newly built, single-family homes gained five points in May. This is the index’s strongest reading since May of 2007 and bodes well for Montgomery real estate.
  • The median existing single-family home price rose in 74 out of 146 metropolitan statistical areas (MSAs) based on closings in the first quarter from the same quarter in 2011.
  • In Fannie Mae’s Monthly National Housing Survey, the percentage of respondents who say it is a good time to sell increased from 10 percent for the fourth straight month to 15 percent

Lets look at the statistics in our local real estate market? 

Midtown Montgomery real estate sales statistics for May show the number of homes sold increased by 38% compared to May 2011. The average sales price decreased by 13% to $99,619 during the same period. The median sales prices increased by 5%, and market times increased by 22% or 28 days.  The highest selling home price decreased by 21%, and the lowest selling home price decreased by 54%.

Midtown Montgomery May 2012 May 2011
Homes Sold 56 35
Average Selling Price $ 99,619 $ 114,116
Median Selling Price $ 78,000 $ 74,000
Days On The Market 130 102
Highest Selling Price $ 380,000 $ 480,000 
Lowest Selling Price $ 5,800 $12,500


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.

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Midtown Montgomery Real Estate Market Trends - April 2012

Thursday, May 31, 2012
by The Hat Team

Housing and the economic recovery will play a large part in deciding the outcome of the 2012 presidential election, according to public policy experts at this month's Legislative and Political Forum during the Realtors® 2012 Midyear Legislative Meetings & Trade Expo. Former Republican National Committee Chairman Michael Steele, leading Democratic strategist Celinda Lake, and National Economic Council Director Gene Sperling provided their unique insights into issues affecting the long-term direction of the country.

"As the leading advocate for homeownership, the National Association of Realtors® is working closely with policymakers to ensure that mortgages are more readily available for qualified buyers and real estate investors," said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. "We believe efforts that help creditworthy homebuyers obtain mortgage financing and allow more people to stay in their homes or avoid foreclosure through streamlined short sales are important for a housing and economic recovery."

Lets look at the statistics in our local real estate market? 

Midtown Montgomery real estate sales statistics for April show the number of homes sold decreased by 14% compared to April 2011. The average sales price increased by 19% to $159,152 during the same period. The median sales prices increased by 26%, and market times increased by 28% or 41 days.  The highest selling home price decreased by 6%, and the lowest selling home price decreased by 29%.

 

Midtown Montgomery April 2012 April 2011
Homes Sold 25 29
Average Selling Price $ 159,152 $ 129,495
Median Selling Price $ 135,000 $ 100,000
Days On The Market 146 105
Highest Selling Price $ 600,000 $ 649,000 
Lowest Selling Price $ 6,000 $8,500


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.

Interested in buying a bank-owned home. Get bank-owned listings alerts FREE!

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Midtown Montgomery Real Estate Market Trends - February 2012

Friday, March 23, 2012
by The Hat Team

Housing affordability conditions have reached the highest level since recordkeeping began in 1970, according to the National Association of Realtors®.

NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage principal and interest payments.

NAR projects the affordability index for all of 2012 will be at an annual high, with little movement in mortgage interest rates or home prices during the year.

What does affordability look like in our local real estate market? Take a look at February figures.

Midtown Montgomery real estate sales statistics for February show the average sales price decreased by 4% to $96,324 when compared to February 2011.  The number of homes sold decreased by 5% in February 2012.  The median sales prices decreased by 26%, and market times increased by 3% or 3 days.  The highest selling home price increased by 1%, and the lowest selling home price decreased by 77%.

 

Midtown Montgomery Feb 2012 Feb 2011
Homes Sold 19 20
Average Selling Price $ 96,324 $ 99,860
Median Selling Price $ 60,000 $ 81,200
Days On The Market 116 113
Highest Selling Price $ 286,000 $ 285,500
Lowest Selling Price $ 4,000 $17,500

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Midtown Montgomery Real Estate Market Trends - January 2012

Friday, February 24, 2012
by The Hat Team

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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Midtown Montgomery Real Estate Market Trends - 2010 vs 2011

Saturday, February 4, 2012
by The Hat Team

Environmentally friendly features have become more important to home buyers according to the 2012 Home Buyer and Seller Profile published by the National Association of Realtors. The importance of various features such as heating and cooling, energy efficient appliances and lighting, landscaping, and an environmentally friendly community differ by region.

  • Commuting costs and environmental efficiency have increasingly factored into home buying decisions due to higher energy costs, but also due to overall concern for the environment.
  • Factors that are most important to buyers are those directly related to the buyers’ pocketbook.
  • Heating and cooling costs were at least “somewhat” important to 87 percent of home buyers.
  • Commuting costs were at least “somewhat” important to 73 percent of home buyers.

Now take a look at how the Midtown Montgomery real estate market performed in 2011.

Midtown Montgomery real estate sales statistics for 2011 show the average sales price decreased by 8% to $126,628 when compared to 2010.  The number of homes sold decreased by 18% in 2011.  The median sales prices decreased by 5%, and market times increased 3% or 4 days.  The highest selling home price decreased by 13%, and the lowest selling home price decreased by 99%.

Midtown Montgomery 2011 2010
Homes Sold 290 354
Average Selling Price $ 126,628 $ 137,427
Median Selling Price $ 110,000 $ 116,052
Days On The Market 128 124
Highest Selling Price $ 649,000 $ 750,000
Lowest Selling Price $ 1 $5,100


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.

 

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Midtown Montgomery Real Estate Trends - August 2011

Friday, September 23, 2011
by The Hat Team

A number of research studies have shown that home ownership provides social and societal benefits. Not only is home ownership one of the best ways to build long-term wealth, providing resources for a more comfortable retirement, but it also fosters an immeasurable sense of community and stability vital to growing families.

NAR’s "Social Benefits of Homeownership and Stable Housing" report reveals that home owners are happier and healthier. They tend to vote more, volunteer more and contribute more to their neighborhoods. Home owners do not move as frequently as renters, which encourages more neighborhood stability, and children of home owners are more likely to participate in organized activities and spend less time in front of the television.

Now take a look at how the Midtown Montgomery real estate market performed in August.

Midtown Montgomery real estate sales statistics for August show the average sales price decreased by 13% to $112,293 when compared to August 2010.  The number of homes sold was consistent with August 2010.  The median sales prices decreased by 16%, and market times increased 11% or 13 days.  The highest selling home price increased by 18%, and the lowest selling home price decreased by 19%.

Midtown Montgomery August 2011 August 2010
Homes Sold 29 29
Average Selling Price $ 112,293 $ 129,283
Median Selling Price $ 94,000 $ 112,500
Days On The Market 122 109
Highest Selling Price $ 465,000 $ 380,000
Lowest Selling Price $ 12,000 $ 14,900

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

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.

You can reach Sandra by filling out the online contact form below or give her a call anytime.

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

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Midtown Montgomery Real Estate Sales - May 2011

Thursday, June 23, 2011
by The Hat Team

Despite the ups and downs of the housing market, home owners and non-owners alike consider owning a home essential to the American Dream according to a survey conducted on behalf of the National Association of Home Builders (NAHB) by Public Opinion Strategies of Alexandria, VA, and Lake Research Partners of Washington, D.C.

The survey results show that Americans see beyond the immediate housing market to the enduring value of homeownership. An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market, and 95 percent of the home owners said they are happy with their decision to own a home.

One of the more striking aspects of the survey results is the intensity of sentiment among potential voters, according to Celinda Lake, president of Lake Research Partners. “People believe overwhelmingly that owning a home is an anchor to the American Dream,” she says. “It’s an anchor to your retirement, and it’s an anchor to your personal economic well-being.”

Among the other survey results:

73 percent said owning a home is one of their goals
• Homeownership and a retirement savings program are considered by voters to be their best investments.
• 80 percent of home owners would advise a close friend or family member just starting out to buy a home.
• Saving for a down payment and closing costs is the biggest barrier to homeownership.
• Americans believe that owning their own home is as important as being successful at their job or being able to pay for a family member’s education.

Owning a home is not just a commodity to people. It is a core value.

Now take a look at how the Midtown Montgomery real estate market performed in May.

Midtown Montgomery real estate sales statistics for May show the average sales price decreased by 10% to $150,975 when compared to May 2010.  The number of homes sold decreased by 51% in May.  The median sales prices decreased by 6%, while market times increased 15% or 18 days.  The highest selling home price decreased by 36%, and the lowest selling home price increased by 59%.

Midtown Montgomery May 2011 May 2010
Homes Sold 22 45
Average Selling Price $ 150,975 $ 166,925
Median Selling Price $ 111,450 $ 118,900
Days On The Market 121 103
Highest Selling Price $ 480,000 $ 750,000
Lowest Selling Price $ 12,500 $ 5,100

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.

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Midtown Montgomery Real Estate Trends - Dec 2010

Friday, January 21, 2011
by The Hat Team

The 2011 real estate market forecast depends on who you talk to. There are conflicting signs but most experts predict a slow growth in sales nationwide. Real estate guru Barbara Corcoran has this to say about buying a home in 2011:

“Of course people are nervous about buying with so many mixed signals, but my advice would be: Do not wait. If there's one thing I learned about this real estate is that it's very slow to unwind and usually takes years to do it. But once it decides to turn around, those prices move up very quickly, and you'll just be joining every Tom, Dick and Harry bidding on the same house. If you have an inclination to move, you'll get no better time than now, with cheap money, cheap prices and an embarrassment of riches to choose from. Why wouldn't you buy now if you were so inclined?”

The only way to know when you are at the bottom of the market is when you bounce off of it. We bounced in December!

Let’s compare December 2010 to 2009 real estate statistics to see what improvement has taken place in our local market.

Midtown Montgomery real estate sales statistics for December show the average sales price increased by 2% to $142,814 when compared to December 2009.  The number of homes sold decreased by 3% in December.  The median sales prices increased 5% and market times decreased 1% or 1 day.

Midtown
Montgomery
 December 
2010		 December
2009
Homes Sold
 29 30
Average Selling Price $142,814 $140,690
Median Selling Price $125,000 $118,750
Days On The Market 122 123
Units On the Market 2,969 2,969

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.

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Montgomery AL Real Estate Market Trends - Feb 2010

Thursday, March 25, 2010
by The Hat Team

Owning a home is its own reward, but home ownership can also bring rewards at tax time. This year is especially beneficial for people who are in the market to buy a home, thanks to the $8,000 first-time buyer credit and the $6,500 tax credit for repeat buyers.

Current homeowners can benefit, as well. Tax credits are available for owners who improve the energy efficiency of their home, including replacing exterior windows, skylights and doors and installing efficient heating and air conditioning systems. Certain home improvements may qualify for as much as 30 percent of the project cost, up to $1,500.

Homeowners also enjoy a mortgage interest deduction; allowing them to deduct all the interest paid on up to $1 million in mortgage debt. If you bought a home in the past year, be sure to provide a copy of your HUD-1 statement to your tax preparer. The interest you paid at closing is not reflected in your year-end mortgage statement. Points and other closing costs may also be tax deductible.

Many housing markets were affected by an extremely harsh weather in February. Take a look at what February looked like in our Montgomery AL real estate market:

Montgomery AL real estate sales statistics for February show pending sales have remained consistent in 2010 compared to February 2009. The average sales price decreased by 38% to $118,700 while sold listings were up by 32% from 2009.  Market times were 17 days less than 2009.

Midtown
Montgomery

Pending
Sales

Sold
Listings

Average
Market Times

Average
Sales Price

Feb 2010

34

31

93

$118,700

Feb 2009

34

21

110

$190,729

To take advantage of these tax benefits and 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 AL Real Estate Sales Expected To Rise

Thursday, June 26, 2008
by The Hat Team

A modest gain in the level of Montgomery AL real estate sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages, according to the latest forecast by the National Association of Realtors®.

 
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in April, rose 6.3 percent to 88.2 from a reading of 83.0 in March. It’s the highest index since last October, but remains 13.1 percent lower than April 2007 when it stood at 101.5.

Lawrence Yun, NAR chief economist, said pending sales contracts have picked up notably in areas undergoing significant price drops. “Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants,” he said.
 
Let’s take a look at the May sales statistics to see how things are looking in the Montgomery AL real estate market:
  
Midtown Montgomery saw a 48% decrease in pending sales this May, when compared against May 2007.  Likewise, sold listings were down 34%.  While the average sales price dropped 4% to $142,820, homes were on the market for an average of 29 fewer days than in 2007.

Midtown
Montgomery
Pending
Sales
Sold
Listings
Average
Market Times
Average
Sales Price
May 2008
38
37
104
$142,820
May 2007
72
56
133
$149,412

As these statistics and national trends show, this is a great time to consider buying Montgomery AL real estate. 
To learn more about the current Montgomery AL real estate market, please call me at 800-HAT-TEAM or visit HomesForSaleInMontgomeryAlabama.com.
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