10 years of sales in the Liberty Park subdivision of Vestavia Hills, Alabama

statue of liberty-liberty park sub, vestavia hills, alLiberty Park is an upscale subdivision located in the city of Vestavia Hills, Alabama.  It is well recognized because of the Statue of Liberty replica that is located at its entrance.  The statue was originally made for the Liberty National Life Insurance Company in downtown Birmingham, however in 1989 it was moved to its current location.

Sales prices in the subdivision over the past 10 years have held relatively stable when compared to other neighborhoods in the Birmingham metro area.  I took a look at the median sales price trends over the past 10 years recently while working on an assignment in this popular development.

Take a look at this trend chart of the median sales prices.

Liberty Park median price trendline

 

Keep in mind that this includes all properties within the development, and there is a wide range of home prices and quality of home.  At the lower end there are one level garden  homes on a slab foundation and at the upper end there are custom built estate homes on acreage tracts.  Sold prices range from the lower $200’s to just over $2.8 million dollars.

Each sub market and price range of homes will have its own price characteristics, however the chart above reflects how the entire development’s prices have changed from 2002 to 2012.  Do you see the arch in the middle?  This appears to be when the median prices were at their highest.  Prices increased from 2002 to late 2008 and then they start to take a dip.  From late 2008 to the current time prices have declined slightly and there are more in the lower price range, which has resulted in the trend line shown.

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