Courtesy of the Green Banker this time, we read that there were 256 home sold in B'game in 2013. That number appears to be down just a bit from 2012 when 270 were sold plus whatever sold in "Ingold Millsdale" i.e. Rollins north of B'way where the 2012 data was missing, but also probably very small. 210 of the 256 (82%) sold in 30 days or less. Today's Wall Street Journal notes that
one widely tracked measure of housing costs is the average national home price divided by the average rent. That ratio stood at 14 in the third quarter...that is above the average ratio of 12 between 1989 and 2003, which is considered a 'normal,' preboom home market. Some major cities are looking even more out of whack. San Francisco has a price/rent ratio of 32 compared with its average of 28 between 1989 and 2003.
The Journal notes that EssEff saw appreciation above 20% and we recall that The Times had a chart showing the May 2013 real estate figures of note. B'game's median price was $1.433 million, up 39.7% on 38 transacted properties. So will B'game cool off or will the tech wave keep the buyers coming?