Crestwood home sales have been hot in Birmingham
Crestwood home sales have been doing well in this popular Birmingham neighborhood over the past 12 months so I thought we’d take a look at sales statistics to see what’s been happening.
The Crestwood neighborhood is located in Jefferson county, east of the downtown Birmingham area. It is located minutes away from the popular Avondale area, which has shown a nice resurgence in the past couple of years. Avondale has some great restaurants like Post Office Pies, Saws Barbeque, and Melt to name a few, as well as the popular Avondale Brewery.
Crestwood is attractive to buyers due to the unique style of homes and the renovation possibilities. Access to local hospitals as well as the University of Alabama at Birmingham (UAB) is good.
From data supplied by the Birmingham MLS the following statistics reflect sales activity over the last 10 year period. You can see that prices are returning to pre-recession levels and unit sales are continuing to increase.
Past 12 months Crestwood home sales statistics
Median Sales Price
The median sale price of all homes sold during the last 12 month period was $185,000.
Median Price Per Square Foot
Based on MLS reported square footage data the median price per square foot of all homes sold from April 2015 through April of 2016 was $128.35.
Average Days on Market
On the average it took approximately 58 days, or almost 2 months, to sell a home in the Crestwood neighborhood.
Sale Price to List Price Ratio
97%- This means that the final sale price was approximately 97% of the final list price before going under contract.
Number of Sales in Past 12 Months
There were approximately 172 homes that sold over the past 12 months.
Current Crestwood neighborhood Homes For Sale Inventory Levels
At the time of this writing there were approximately 21 active listings, ranging in price from $67,500 to $359,000. Pending and contingent listings consist of 40 homes ranging in price from $96,200 to $300,000
Comments
Sales prices within the Crestwood neighborhood have been stable over the past 10 years with only minor fluctuations. Based on sales over the past 12 months, and the current inventory of homes, there is currently a little over 4 months worth of inventory. The current inventory of homes would be considered in balance.
As noted previously, the Crestwood neighborhood is close to Interstate 20/59, which puts it only minutes away from the central business district of downtown Birmingham. This makes it popular with those commuting into the city for work at the local hospitals or at UAB.
Check out some these homes within Crestwood and you’ll see why it is a popular area. There is a variety of attractive architectural styles.
Question
If you have any questions about sales in the Crestwood neighborhood or you need a pre-listing appraisal feel free to get in contact with me.
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Great info Tom! My son has his house on the market in that area-good news:)!
I’m about to forward this to him.
Awesome Leigh Ann! That is such a great area I don’t think he should have problems selling if it’s priced right. 🙂
Thank you for sharing all this valuable information on the Crestwood real estate market near Birmingham.
Thanks Gary.
Nice job, Tom. What’s behind the increase in sales volume over the past few years?
Great question Ryan. I honestly think it’s nothing more than the overall real estate market improving from the recession. In addition it might be more younger buyers/millennials entering the market as this is a great entry level neighborhood and it is close to the downtown area which has shown a lot of urban renewal over the last several years.
Tom, do the window shutters influence the price in any way?
Most likely they do not but it depends on the market and the importance buyers place on this feature. 🙂