Birmingham Alabama Real Estate Luxury Homes Market Watch Stats

I was commenting with someone the other day and asked about some of the information that people might be interested in. One of the things they mentioned was the Birmingham Luxury Market. I thought to myself, I really enjoy looking at high end homes, but what makes it "luxury?" I made up my own definition for the Greater Birmingham Area including parts of both Jefferson and Shelby County, and decided a luxury home was any home that sold for $1,000,000 or more. I may reform my definition in time, but for now....

Greater Birmingham Area Luxury Home Stats for 2007 (January-July 2007)

Total Active: 154

Avg Price: $1,645,257

Low: $1,000,000

High: $5,999,000

Avg DOM: 164

Total Sold: 66

Avg. Price: $1,497,276

Low: $1,000,000

High: $3,495,000

Avg DOM: 117

Active Property Stats
According to the chart, there are 154 active million dollar plus properties. The highest price home right now is for $5,999,000. Average active price is $1,645,257. The average days on market for the active properties are 164 days.

Sold Property Stats
According to the chart, 66 million dollar plus homes have sold so far this year. The highest price sell was $3,495,000 and the average million dollar plus home that sold, sold for $1,497,276. Average days on market for the sold luxury homes was 117 days.

Looks like even million dollar homes that are priced right sell faster.