Tuscaloosa Real Estate Market is still holding on in Tough Economy

By
Real Estate Agent with RealtySouth

Tuscaloosa Real Estate MLS   
December 2008 Real Estate Statistics
# of Homes Sold: 109  New Const Sold: 20% (22 Homes)
Condos Sold: 2.8% (03 Units)  Condos Active: 14% (240 Units)
Ave Days on Market: 124  Avg Selling Price: $170,158 Median Selling Price: $145,000
# of Homes on Market: 1770  New Const. Active: 21% (378Homes)

 

The Tuscaloosa Real Estate market is still holding, while much of the rest of the country is having huge declines.   From December 2007, the Median Selling price is up from $143,950. While the number of homes on the market is down from 1813.  The Days on Market has roughly remained the same during this time (120 in Dec. 07 and 124 in Dec. 08).

 

There are roughly 69 Active Foreclosures in the Tuscaloosa area,  however this number is somewhat skewed since many foreclosures are not currently listed as many banks are holding inventory (see http://www.cnbc.com/id/28898377)  and some foreclosures are not listed as foreclosures and you must speak with an agent to have this disclosed to you.  This amount of foreclosures is slightly over normal for Tuscaloosa but not by much.

 

To see individual listings or to see a current market report for Tuscaloosa visit www.chriswlee.com .

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