Over the Mountain and Shelby County Alabama ~ A Year in Review 2008

The holidays are over and the New Year has been celebrated. As we look back and reflect on where we have been in the past year and make our New Year Resolutions and set our goals for 2009 it is time to take a look at the Sales and Inventory Report with the Statistics of what SOLD in 2008.

This report covers all of the sales reported to MLS in the Over the Mountain and Shelby County Areas. The column Monthly Sales is the number of homes sold, Current Inventory is the number of Active Listings on the market and Months Inventory is showing that we a little over 9 months of Inventory on the ground right now. The Average DOM (Days on Market) shows homes sold on average in 81 days. 97.01% Sold/List means on average the homes sold for 97.01% of their list price.

And what do we have to compare this wonderful year of real estate sales to? Why the previous year of course. So if you are in to crunching numbers feast your eyes on the same report for the same market area in 2007. All show declining accept for Days on Market increased by 10 days, there are 468 MORE homes on the market and the number of months of Inventory on the ground went from 5.93 to 9.44 at the current rate of sale.

So what are your plans for 2009? Have you decided which path you will take? Will YOU be in the market to Buy or Sell a home? While we are experiencing difficult times it is probably wise to cut back on our spending in many areas. Cutting back on the unnecessary items is a good idea, but a roof over your head has always proven to be a necessary item and real estate is still a more secure place to invest your money. And Interest Rates are historically LOW!

There are 3674 homes on the market today in the area that I serve.

Maybe one of those homes is waiting for YOU!

Click on the Search MLS button below and begin your search today!

About the Author

Debbie Hutchins a Certified Residential Specialist has been a licensed Realtor since 1987. Serving the Greater Birmingham Area and specializing in Shelby County Debbie is available to assist you with your real estate needs. We hope you have enjoyed reading and hope you will come back! You may also subscribe to "debs doodles" and have it delivered to your email! And as always, you are welcome to search the MLS through Debbie's Re/Max website.