Midtown Montgomery Housing Market Expected to Rise in 2007

"After bottoming in the fourth quarter of 2006, existing-home sales are expected to rise through 2007 and into 2008, while new home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors." Is this an accurate forecast for Midtown Montgomery? Let's take a look.

The number of sold single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits1 and 6) in December was down 25 percent compared to December 2005. The number of pending listings remained unchanged. December 2005 saw market times of 83 days compared to this December's 103 days, a 24 percent increase.

The average sales price in December increased 16 percent to a price of $148,942.

Now, let's take a look at the year end statistics for Midtown. Sales in 2006 were down from 2005 by 10 percent. A better stat than December's 25 percent, indicating the fourth quarter was not as strong as the beginning of the year.

Market times actually decreased in 2006 from 100 days on the market to 83 days on the market. This is a dramatic and very positive difference from the December figure.
2006 appreciation is 16 percent (same as December), with the average price being $151,018 compared to $129,851 in 2005.


Montgomery remains a strong market and avoided the price decreases experienced throughout much of the country. Based on buyer activity early in January (calls, walk-ins, open house attendance, etc.), 2007 will be a very strong year.

Wondering what prices are doing in your neighborhood? Visit MontgomeryHomeInfo.com. A market evaluation will be emailed to you.

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

Published by the Montgomery Advertiser

The Montgomery Advertiser has published my article, "Vacant Lots, Buildings Disappear with Infill Housing" which addresses development in Midtown Montgomery. The article was originally written for our monthly newsletter, Midtown Living, which was referenced is the previous post.

Are you interested in buying Midtown Montgomery real estate? If so, you can sign up for a FREE email home search at EmailMontgomeryAlabamaHomes.com. It's fast, easy, convenient, no obligation and most of all FREE!

Infill Housing in Midtown Montgomery

We are proud to present the January/February 2007 edition of Midtown Living, featuring articles concerning:

• Infill Housing in Midtown
• What's Ahead for 2007
• Predicting Midtown's Future
• Heater Safety Inspections & Guarantees by Hans Heating & Air
• Homes For Sale in Midtown
• and more...

CNNMoney.com Reports Increase In New Home Sales

New homes sales increased, unexpectedly, in November according to CNNMoney.com. November sales did not compare to the to the red hot market of 2005, but came in 7 percent higher than July sales which were the lowest this year. It looks as though sales have bottomed out and are on the rise again. Read the full story...

Midtown Montgomery Housing Report

David Lereah, National Association of Realtors chief economist, said a fairly steady pace of home sales can be expected for the next two months. "It's important to focus on where the housing market is now - it appears to be stabilizing, and comparisons with an unsustainable boom mask the fact that home sales remain historically high - they'll stay that way through 2007." he said. "In addition, a temporary correction in prices distracts from the fact that it is primarily the number of homes sales that affects the economy, and the number for this year will be the third highest on record." How do local home sales stack up to this prediction?

The number of sold single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits1 and 6) for November is down 11 percent compared to November 2005. The number of pending listings are, also, down by 29 percent. November 2005 saw market times of 115 days compared to this November's 85 days, a 26 percent decrease. A decrease in market times is very unusual in a slower market and is an indication the Midtown market will remain strong. The average sales price has decreased by $1,390 or 1 percent.

When thinking about selling your home, be sure to give us a call. We have the market knowledge and expertise needed to help you price your home correctly thus assuring a successful sale and putting the most money in your pocket.

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

Interest Rates Continue To Fall

Freddie Mac's Primary Mortgage Market Survey reports the average interest rate on a 30-year fixed rate mortgage to be 6.08 percent for the week ending Dec. 7. This is down from the previous week's 6.14 percent and the lowest rate this year since mid-January.

"Continued signs of slowing in the housing market and weakness in the manufacturing sector helped keep mortgage rates down this week," said Frank Nothaft, Freddie Mac vice president and chief economist.

Is a new home on your wish list this holiday season? The falling interest rates can help make your wish a reality. Visit MontgomeryAlabamaHomeSearch to view all Montgomery real estate listings. And give us a call. We have the expertise, knowledge and experience to make your new home a reality!

Midtown Montgomery Home Sales Coast Into 2007?

Existing home sales are expected to coast into 2007 at roughly the same level as 2006, according to the National Association of Realtors®. Even though existing home sales are expected to fall 8.6 percent this year, 2006 remains the third-best year on record. What are Midtown Montgomery sales doing?

The number of sold single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits1 and 6) for October is down 19 percent compared to October 2005. The number of pending listings are, also, down by 7 percent. October 2005 saw market times of 98 days compared to this October's 72 days, a 27 percent decrease. A decrease in market times is very unusual in a slower market and is an indication the Midtown market will remain strong. The average sales price has increased by $7,892 or 6 percent.

Home prices are continuing to rise, which is good news for Midtown sellers. But, there is more competition for ready, willing and able buyers. Homes must be priced right and in excellent condition to attract today's buyer. Give us a call if you are thinking of selling your home. We have the knowledge, experience and expertise needed to get sellers the highest possible price for their homes.

If you would like to view all Midtown real estate listings, visit MontgomeryAlabamaHomeSearch.

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

Midtown Montgomery Real Estate Prices Continue To Rise

Home sales appear to be bottoming out with lower home prices attracting buyers in many areas of the country, according to the National Association of Realtors®. Is this happening with Midtown Montgomery real estate?

The number of sold single family homes in Midtown Montgomery (Midtown consists of neighborhoods south of I-85 between Exits 1 and 6) for September is down 6 percent compared to September 2005. The number of pending listings are, also, down by 15 percent. Whereas, last month (August) there was a 14 percent increase.

During this same time period, there has been a dramatic decrease in market times. September 2005 saw market times of 109 days compared to this September's 90 days, a 17 percent decrease.

The average sales price has decreased by $13,523 or 9 percent. This is the first decrease in the average sales price this year. We have seen a steady increase in prices each month until now. This month's decrease may be an indication that the market is leveling off. Or, it could be a more normal fall market for Midtown when prices soften a bit compared to the previous spring.

It would be easy for buyers to overpay for a Midtown Montgomery home in the current market. We have the experience, market knowledge and negotiation skills needed to get you the best possible deal.

Contact us if you are in the market to buy a home. Also, visit