Birmingham, Alabama Home Sales-Most Expensive Home Sale in April-2010

Well, the Birmingham Area Multiple Listing Service indicates that the most expensive home sale in April of 2010 occurred in the Greystone development of Hoover, Alabama.  If you follow golf you may have heard of this area.  For many years it was host to a major Senior PGA Tour event.  The golf course is beautiful as well as the surrounding landscape.  When Michael Jordan took a break from basketball years ago he played minor league baseball in Birmingham for the Barons and while here lived in the Greystone subdivision.Greystone development has most expensive home sale in April 2010

The homes located in this development are some of the most expensive in the Birmingham area.  I have done some appraisal work within the development in the past year and it has had its share of foreclosure activity, as has the rest of the Birmingham market.  There are homes located on small lots, acreage tracts, lake lots, as well as golf course lots.

The home sold for $1,546,350.  As I said in my last post about the high dollar sale in March, there are other homes which are worth quite a bit more than this, however this is the one that sold in April 2010.  This sale does not appear to be a foreclosure sale, however public records does indicate that it previously sold in February of 2009 for about half this price.  The current seller may have purchased it in foreclosure and then resold it this last time.  Quite a good profit if you ask me.  It will be interesting to see further sales activity in this development.

Comments

  1. Real Estate Appraiser Tips says

    Wow, Tom! Pretty high dollar numbers there. That is such a beautiful scene in that photo. I posted this to Facebook. Bill Cobb

  2. Looks like a beautiful area, Tom.
    That’s a big swing in the build-up of the development.

    • Wendell,
      Yes it is. There is an area outside of the gates that is, shall I say, “more affordable”. The homes on the golf course are usually at the upper end of the range.

  3. What is the top of the market for your area? And what about the bottom? I’m curious now. This must be a nice community if Jordan lived there.

    • Ryan,
      The Greystone subdivision has a wide range of homes. At the low end there are garden homes, and then at the upper end you have the larger estate homes. The low end would be around the mid $150’s. Over the past 10 years the highest sale according to the MLS was around $4.2 million, however over the past twelve months it was the sale I noted in my post.

Speak Your Mind

*

Sign up and get valuable content!

  • Get local real estate market data
  • Learn valuable information from a seasoned appraiser
  • Find out what adds value to your home

I respect your privacy. Your information stays with me.