A quick look at Pelham, Helena, and Alabaster new construction activity in 2016
After reading a recent article in the Alabaster Reporter that described how plans for a new residential development had been denied I was curious about Pelham, Helena, and Alabaster new construction activity. These three communities are popular among home buyers in Shelby county, and with the recovery of the housing market, I thought I would share what has been happening.
To give a short update, both Pelham and Alabaster have broken off from the Shelby County school system and started their own city schools. Helena is still a part of the county school system but built a new high school in 2014. Alabaster plans to open their new high school later this year. I mention this because school systems tend to drive property values no matter where you are.
Alabaster plans to open their new high school later this year. I mention this because school systems tend to drive property values no matter where you are.
These three communities have continued to grow over the years because of the affordability of homes and the proximity to business centers. They routinely get high praises for being a safe place to live in Alabama.
The data I have included was taken from the Greater Alabama MLS from January 1 to December 31 of 2016. By looking at new construction we can get an idea of how favorably buyers see the area. It can also give us some insight into the supply and demand for housing.
How many Pelham, Helena, and Alabaster new construction homes were there?
The following chart shows new construction for 2016 by city. Alabaster and Maylene are shown separately however they are considered part of the same community and are zoned for Alabaster schools.
Helena had the most new home construction last year with 111 new homes, Pelham came in second at 97, and Alabaster/Maylene had 79. This seems interesting that Alabaster would have the least new homes built since it has the largest population of the three cities, and the new Alabaster High School is almost complete.
The new high school will be one of the largest in the state which will surely attract more residents to the city. If you want to find out which Alabaster neighborhoods are the most popular read my previous post.
What is the average sale price for Pelham, Helena, and Alabaster new construction?
The average sales price is a helpful statistic if you want to compare housing affordability. These three suburbs are some of the most affordable in the Birmingham metro area as it is.
Ranking them in comparison to each other Alabaster/Maylene comes in first with new homes in the Maylene area having an average price of around $222,000 and Alabaster at $234,000. Helena is second in affordability at $282,000 and Pelham has the most expensive new homes with an average price of $336,000.
Pelham, Helena, and Alabaster new construction homes similar in size
The average size of homes being built in these three communities appears to be pretty similar with some slight variations. Pelham has the biggest homes with an average size of 2,542 square feet. This stands to reason since they also have the highest average price.
Looking at it from the other end of the range, homes in Alabaster and Maylene are the smallest and have the lowest average sale price. This leaves Helena in the middle at 2,374 square feet.
A look at price per square foot for Pelham, Helena, and Alabaster new construction
A quick look at the new homes being built also shows us that those in Pelham are selling for the most money per square foot at $135, with Helena next in line at $119. Alabaster new construction homes sold for the least at $100 per square feet for homes in the Maylene area and $113 for homes in Alabaster proper.
Do you have any other appraisal questions about the Pelham, Helena, and Alabaster real estate market? If so, leave a comment below and we will keep the conversation going. As always, thanks for reading.