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2024 vs 2023 Birmingham Real Estate Market: Predictions vs. Reality

Vikki Grodner

Predictions vs. Reality: What Actually Happened in the Birmingham Real Estate Market in 2024?

At the start of 2024, we shared insights from leading real estate experts, including a top economist who analyzes global and industry trends daily. While headlines were dominated by concerns about inflation and recession—both in the U.S. and worldwide— we were not predicting a possible market correction.


In fact, we predicted a modest (2.2%) increase in the value of homes nationwide:

So, how did the Real Estate market perform in 2024?


Homes Purchased and Sold

  • 2024 Total Transactions: 40,570
  • 2023 Total Transactions: 40,921
    Result: The real estate market was basically flat.


The number of homes bought and sold in 2024 was consistent with 2023, highlighting the stability of the housing market despite economic uncertainties. This consistency demonstrates the enduring value of real estate as a reliable investment.


Total Sales Volume

  • 2024 Total Volume: $12.806 billion
  • 2023 Total Volume: $12.149 billion
    Result: A significant         5.8% increase in real estate sales volume.


This increase in total sales volume reflects rising home values and continued demand for property investments. Buyers and sellers alike benefited from the appreciation in home prices, further solidifying real estate as a wealth-building tool.


Average Days on Market

  • 2024 Average Days on Market: 58 days
  • 2023 Average Days on Market: 54 days
    Result: Homes spent slightly longer on the market.


Homes sold in 2024 averaged 58 days on the market, a slight increase compared to 2023. This indicates a more balanced real estate market, offering buyers a bit more time to make informed decisions while still favoring sellers in key locations.


What’s Next for Real Estate in 2025?

Next month, we will share the 2025 Real Estate market insights provided by Keller Williams’ leading economists. We’ll dive into emerging trends, evolving market conditions, and strategies to maximize your real estate investments. Don’t miss this valuable resource to help you navigate the housing market with confidence.



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