A Drop in the Sale of Houses at Sheriff Sale Auction

"In November 2010, a few areas in Alabama registered a drop in the total sales of houses, including the homes put up for sale in the auctions of Sheriff Sale. When compared to the same month of the previous year, majority of the areas in the state posted lesser number of homes put up for sale. But in relation to the depressing documentation of October 2010, most of the areas recorded higher sales.

In regard to the figures of 2009, residences including foreclosure homes offered for sale in Montgomery, new residential properties in several areas and other kinds of residences offered for sale in the present year remained low. In Birmingham, the locally based Association of Realtors, reported that in November the total number of houses sold dropped by 30 percent when compared to November 2009.

In comparison to October 2010, new houses and foreclosed homes in Alabama bought by buyers recorded better figures. Birmingham witnessed similar developments–here, a total of 616 residences were sold in the month of November. It represented a rise of 9 percent in relation to last month. One positive thing was that in November cost of residential properties improved.

During the month of November, the average cost of homes offered for sale in the auctions of Birmingham Sheriff Sale and also through other modes was $178,808. This indicated a rise of 4 percent as against that of November 2009. While, the median price of houses in November was $152,100 which represented an increase of 5 percent in relation to the previous year. When updated average and median prices were taken into consideration, price levels for both 2009 and 2010 were almost same.

In the mean time, inventory of for-sale houses, including bank foreclosure houses put up for sale and newly reconstructed residential properties, increased by 2 percent in this area for the particular month. During November 2010, in Birmingham a total number of 10,142 houses were offered for sale. From the month of January to November 2010, total number of houses sold was 9 percent less the numbers recorded in the same period in 2009..."

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