Pelham Home Appraiser Tom Horn reports on Grey Oaks Home Sales
As a Pelham home appraiser, I recently completed an assignment in the Grey Oaks neighborhood. Grey Oaks is one of the top 3 subdivisions in Pelham, AL for new home construction. The other two neighborhoods include Ballantrae and Keeneland Valley, with Ballantrae having the highest number of new homes.
Grey Oaks subdivision is approximately 4 years old and has experienced good growth since it started. Homes prices have gradually increased over this four year period as can be seen in the graph below.
Here is a breakdown of recent Grey Oaks home sales:
- 33 sales from 9/2016-9/2017
- Median price of $345,715
- Average price of $351,389
- Low price of $295,000
- High price of $434,900
- Average days on market: 177
- 14 active listings from $326,900-$389,900
- Average square footage per MLS (not including basement): 2,324 sf
- Average price per square foot (not including basement): $151.22
The average days on market is higher than that of Pelham in general due to new home construction. These homes are entered into the MLS before construction and make it look like it took longer to sell when in reality it is due to the construction period.
Here are a couple of the most recent sales in Grey Oaks:
Pelham recently went from being part of the county to being city schools. As part of this, Pelham Ridge Elementary school was recently built and is only 5 miles away. Access to the interstate is also close within a 10-15 drive.
I’ve included a handy infographic of the recent sales activity for ease of sharing, so feel free to share with your clients or friends.
Question
Do you have any questions about the Grey Oaks subdivision or any other neighborhood in Pelham? If you need the services of a Pelham home appraiser feel free to contact me and as always thanks for reading.
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NOTE: Information included in this post is based on information from Birmingham Association of REALTORS® for period 09/2016 to 09/2017.
Things look like they continue to trend up in Pelham, Alabama. Thank you for the report Tom.
Yes, Gary, they are trending upward. As I noted this is one of the 3 most active neighborhoods in the Pelham area.
Love the graph. It really does tell the story of steady but pretty decent value increases over the past four years. Nice job Tom.
Thanks, Ryan. It has shown a good steady increase since it first started.