Home prices continue to drop in Birmingham metro area

There are some positive and negative news regarding home sales in the Birmingham metro area.
According to the Birmingham Association of Realtors, realtors sold more homes in February 2009 than in January 2009, for a 28% increase.
However, total residential home sales from February 2009 compared to February 2008 are down 26%.
The average price for a home in February 2009 was $171,062, compared to $178,600 in February 2008.
The median price in February 2009 was $130,000 compared to $152,500 in February 2008.
A home was on the market for about 4 months.
The BAR says the average and median home prices dropped due to the prices of foreclosures, which average $78,044 in February 2009.