The Birmingham, Alabama Multiple Listing Service has recorded a total of 87 single family residential sales for the city of Alabaster in the first quarter of 2013. I thought it would be interesting to take a look at what neighborhood was most popular among buyers by seeing which one had the most sales.
Several neighborhoods had 3 and 4 sales but the one which had the most was the Park Forest subdivision, which had a total of 6 sales. Park Forest is located off of Highway 119 on the south side of Alabaster. Homes within the entire Park Forest subdivision range in age from 8 to 32 years. The range in sales price for the recent home sales is from $65,000 to $191,000, with an average price of $145,505 and a median price of $162,950. The home with the low price of $65,000 was a foreclosure and brought the average down.
In contrast to this year, Park Forest had only 2 sales during the same period in 2012. Those homes sold for $105,000 and $155,000. The popular subdivision with the most sales during the first period in 2012 was Silver Creek, which is also located in the same area as Park Forest, off of Hwy. 119.
I expect to see sales volume continue to rise this year as more people make the decision to buy. Property values are still somewhat slow in rebounding, however the decreased supply should help reverse this trend. Are you seeing any positive signs in your neighborhood?