Real Estate Market Update: Chelsea Park- Chelsea, Alabama

Chelsea Park clock tower-Chelsea, Alabama

Chelsea Park clock tower-Chelsea, Alabama

I recently did an appraisal in the Chelsea Park Subdivision in Chelsea, Alabama and I thought I would share with you what’s going on there. This is a large residential development that has experienced new construction growth in 2013. Chelsea Park is located just south of Highway 280 in Shelby, County Alabama. It is a planned development that has sidewalks, parks, and Chelsea Elementary located nearby.

The neighborhood has a variety of home styles including small garden homes as well as bigger custom built homes on larger lots, however the concentration of this report is the garden homes built on a slab foundation. Even within the garden home category there is a wide range of prices and size/style of home. Take a look at the statistics for the first quarter of 2012 compared to 2013 as well as the month of May sales figures.
Chelsea Park Alabama Housing Statistics

 

 

 

 

 

I think the new construction in the Lakeview sector has had a lot to do with the increase in unit sales as well as an increase in the average and median sales price. There is a good range of of home sizes and prices, which makes it popular with buyers. Take a look at the new construction that is under way in the Lakeview sector of Chelsea, Park.

 

The neighborhood is large and when the housing bubble burst several years ago there were a lot of lots left vacant, however with the recent upturn in the economy new construction has resumed. Have you seen this type of activity in your area? Have you seen an increase in the sales price of these new homes? Leave me a message, I would like your input.

If you have any real estate appraisal related questions you can call me at 205.243.9304, email me, or connect with me on Facebook., Twitter, or Youtube.

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