Birmingham's real estate market is experiencing a price correction, with values down 52.9% from last year. Home prices have increased 23.6% in the past month alone. With 7.5 months of supply, Birmingham's inventory levels remain relatively tight. Homes are now taking an average of 87 days to sell, significantly longer than the 49 days typical for this market. A significant 26.7% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Based on current market indicators, home prices in Birmingham are projected to decrease by approximately 4.3% over the next month.