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

I have written about Mountain Brook, Alabama in my blog before.  It is one of the most exclusive and expensive areas in the state of Alabama to live.  The most expensive home sale in September once again is located in Mountain Brook.  The home located at 3248 E. Briarcliff Circle sold in September for $1,804,500.  Birmingham area multiple listing service shows it was on the market 7 days before it went under contract.  It last sold in October of 2008 for  $1,250,000.  Since the sale in 2008 the home has had major renovations made to it.  If you are a from the Birmingham, Alabama area do you think property values in Mountain Brook have been affected by the downturn in the real estate market?