Six years of sales activity in the Brook Highland subdivision, Shelby County, Alabama

Brook Highland, Shelby County, AlabamaI like to share market data I get when I do appraisals in different areas.  I’ve included sales from the Brook Highland subdivision in the Inverness area of north Shelby County.  The sales are from January 2005 to December 2011.  The graph charts the median sales price for each quarter for all seven years. The first graph shows a scatter diagram of all sales in this time period.

Brook Highland sales

 Sales prices range from $135,950 to $791,536.  As you can see in 2005 and 2006 there was a higher concentration of sales, which I have seen in other areas and is expected as this was before we started seeing the effects of the current housing crisis.  In the later years there is definitely more sparse sales.  In the next graph I have plotted the median sales prices for each quarter of the year.

Brook Highland median sales price trend

The lowest median price is at $221,450 and the highest is at $450,000.  You can see that there were some drastic variations around the 4th quarter of 2008 (low), 2nd quarter of 2009 (high), and the 4th quarter of 2010 (low).  This could be caused by some foreclosure activity or some sales activity within homes in the lower price brackets.  Brook Highland has a variety of homes ranging from small garden homes to larger custom built homes with city and mountain views.  At the end of December 2011 there were approximately 17 homes for sales, translating to roughly 5 months worth of inventory.  This is the absorption rate and I explained how it is calculated in a previous post.  Click  here to read about it.  Do you see any other trends in these graphs?  Let me know in the comments below and if you like this post please share it with your friends.

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.

Comments

  1. Hi Tom, very good report on Brook Highland Subdivision. It appears at end of Q3 2011, Brook Highland was at 2008 support level, which is encouraging, not down steeply to the Q1 2009 or Q1 2011 levels of about $225,000. Tom, DSNews.com has an article out this morning titled Housing Crisis to End in 2012 as Banks Loosen Credit Standards. I’m forwarding this article to you. Bill

    • Thanks alot Bill for your comments. I will take a look at the article. I have heard encouraging things this year that seems to point to a change in directin. Hope everyone is right.

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