Birmingham, AL Real Estate Market Improving
According to Tom Brander’s Alabama Real Estate Market Trends website the Birmingham, Alabama area was 6% ahead of last year in dollar
sales as of mid year. In addition to an increase in total dollar sales there has been an increase in the number of homes sold, including new homes, over last year. Is this a sign that our market has fully recovered? I’m not sure we can make that bold of a statement yet, however I think it is a good sign that we are headed in the right direction. One of the largest suburbs in the Birmingham Metro area is the city of Hoover, so I thought we could take a look at what the top 5 selling subdivisions in Hoover, Alabama are because the city has such a large impact on the housing statistics big picture for this area.
Where Are All The Home Sales In Hoover Occurring?
Because Hoover has such a large population any increase in real estate sales will result in a move in a positive direction for housing statistics. If we take a look at the top 5 selling subdivisions in Hoover to see where people are buying in 2014 we find the following neighborhoods at the top of the list:
- Ross Bridge
- Greystone
- Lake Cyrus
- Trace Crossings
- Riverchase
We can break down the sales stats in each of these neighborhoods a little more to see the price trends and we can also look at what school systems the neighborhoods are in because schools play such a big role in real estate sales.
Ross Bridge
Total Sales: 135
Average Price: $402,000
Price Range: $146,300-$1,200,000
No. of Active/Contingent/Pending Listings: 115
Average Days on Market: 42
School System: High School: Hoover High; Middle School: Bumpus; Intermediate School: Brocks Gap; Elementary School: Deer Valley
Greystone
Total Sales: 94
Average Price: $397,000
Price Range: $129,900-$1,675,000
No. of Active/Contingent/Pending Listings: 118
Average Days on Market: 116
School System: High School: Spain Park ; Middle School: Berry Middle School; Elementary School: Greystone
Lake Cyrus
Total Sales: 74
Average Price: $283,000
Price Range: $110,000-$675,000
No. of Active/Contingent/Pending Listings: 71
Average Days on Market: 64
School System: High School: Hoover High; Middle School: Bumpus; Intermediate School: Brocks Gap; Elementary School: Deer Valley
Trace Crossings
Total Sales: 64
Average Price: $371,000
Price Range: $239,900-$565,000
No. of Active/Contingent/Pending Listings: 64
Average Days on Market: 74
School System: High School: Hoover High ; Middle School: Bumpus ; Intermediate School: Brocks Gap ;Elementary School: Trace Crossings
Riverchase
Total Sales: 44
Average Price: $303,000
Price Range: $105,000-$573,000
Average Days on Market: 75
School System: High School: Spain Park ; Middle School: Berry Middle School; Elementary School: Riverchase Elementary
These stats were taken from the Birmingham Multiple Listing service and reflect closed sales information as of August 31st, 2014. The active listings are as of September 14, 2014.
What are your thoughts on these stats? Do you have any questions about other area neighborhoods? Leave me a message and lets connect.
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Great information as always, Tom.
Thanks for reading my blog and commenting David.