Grande View home sales report April 2016

Grande View subdivision- Alabaster, AL real estate market report April 2016

Grande View Home SalesThe Grande View subdivision is located in the Alabaster area of Shelby county. The subdivision offers swim and tennis facilities as well as a playground area and clubhouse. This development began around 1990 and is a popular location for home buyers in the Alabaster, Alabama area.

I’ve performed many appraisal assignments in Grande View subdivision over the years and thought I would share some market data that I came up with during a recent job I was working on.

From data supplied by the Greater Alabama MLS the following graph reflects sales activity from around 2000 to the current date:

Grande View Home Sales 2

Past 12 month Grande View sales statistics

Average Sales Price
The average sale price of all homes sold during the past 12 month period was approximately $247,000

Average Price Per Square Foot
The average price per square foot of all homes sold in the past 12 months was approximately $121.00.

Grande View Home Sales

Average Days on Market

On the average it took approximately 86 days, or just under 3 months, to sell a home in the Grande View neighborhood.

Sale Price to List Price Ratio
98%- This means that the final sale price was approximately 98% of the final list price before going under contract. This is a good sign because it indicates that homes are selling for near list price with no significant price reductions. It does not factor in if a property was relisted at a lower price, however.

Number of Sales in Past 12 Months
There were approximately 22 homes that sold over the past 12 months.

Current Grande View neighborhood Homes For Sale Inventory Levels
At the time of this writing there were approximately 14 active listings, ranging in price from $128,000 to $354,400, which includes the garden home sector. Pending and contingent listings consist of 2 homes ranging in price from $128,000 to $354,400.

Comments

As I noted previously the Grande View neighborhood is a popular area and the above statistics reflect sales going back to 2000 as well as more detailed statistics for the past 12 month period. Certain price ranges may reflect different numbers. As an example, as the size of the home increases the price per square typically goes down, if all else is equal, so the average price per square foot for a certain price range home may vary.

After the number of homes sales peaked around 2004 they started to decline, however around 2011 they started trending upwards again.

The average sale price for each 12 month period peaked in 2006 and then started to decline around the time of the housing crisis. It was not until 2011 that the average price started to show signs of changing direction. Since then they have steadily increased to the current year. This positive direction in price levels is expected to continue barring any unforeseen circumstances.

Question

If you have any questions about sales in the Grande View subdivision or you need a pre-listing appraisal feel free to get in contact with me.

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Comments

  1. Nice recap of the Grande View development, Tom ! The graphing skills are improving ☺

  2. Tom, I think Ryan is starting to rub off on you. Great job and interesting to hear about the Grande View real estate market from an expert appraiser.

  3. I love the graphs. It looks like sales volume is increasing after the market bottomed out around 2011/2012. I suppose interest rates below 4% might have something to do with that too. What a difference from 10 years ago though.

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