More home sales in October

The Birmingham Association of Realtors has released the October Home Sales Report for the Birmingham-area, including Jefferson, Shelby, St. Clair and Blount Counties. According to Dave Mace, the total residential sales in October 2012 were 838 compared to 803 in October a year. {}That's a 4% increase.

Of those 838 homes sold, 258 were foreclosures, making up 31% of total sales last month. {}The average price for foreclosures was $79,711. {}Compare that to $229,336 for non-foreclosures.

According to the report released this morning:

"? {}Inventory was down for October 2012 compared to the same month a year before. {}There were 7,852 homes on the market, compared to 8,778 in October 2011. {}That is an 11% decrease.

Overall for the year, the report shows:{}

? Year-to-date total residential sales in 2012 are 9,169 compared to 8,254 a year ago (11% increase)

? Year-to-date average price in 2012 is $181,161 compared to $171,518 in 2011 (6% increase)

? Year-to-date median price in 2012 is $148,580 compared to $141,935 in 2011 (5% increase)"