Birmingham, AL

To keep my readers informed, I provide a real estate market report periodically which is a snapshot of sales and inventory in the Greater Birmingham area. Knowing what the trends show on a macro basis can give buyers and sellers some perspective on what the trends are and how their situation and expectations stack up against what is going on around them.

This real estate market report is pretty simple in that it simply looks at inventory and sales which are the primary measures for how things are going generally. The table below shows, by month, sales and inventory history for conventional single family homes in greater Birmingham AL over the past three years (some months excluded due to space):

For each month, the available inventory of homes is divided by sales for that month to yield the actual months of inventory which is a relative measure of supply and demand. In the far right column, I have provided a 3-month moving average of months of inventory to smooth out monthly variability and provide a better barometer of economic strength.

Take a look at the green highlighted area in this real estate market report to gain a perspective on where we stand in terms of supply and demand in Birmingham. Looking at two years ago, we were at 9.15 months of inventory, last year we were at 11.50 months and now we are at 11.45 so things would appear to have stabilized. While I personally hope that to the the case, a closer look at the numbers suggests that we aren't out of the woods yet. When looking at the 3-month moving average, a differnent picture emerges. We go from moving averages of 7.90 in October, 2007 to 9.45 in 2008 and now 10.80. The moving average smooths out monthly volatility so I believe it to be a better indicator of the market's condition relative to overall supply and demand.

Now take a look at the raw data graphically portrayed in the line graph below.

This is the same data shown in the above real estate market report and paints a similar picture but also gives more insight. The peaks and valleys the past 3 years appear at almost the same times. Looking at 2009 though, shows higher peaks and higher valleys meaning overall we still appear to have supply levels exceeding demand in comparison to prior years. Hopefully for sellers, the trend more recently to rising excess inventory will slow to provide better price / value support. For buyers, undoubtedly there are still lots of choices allowing selectivity in making offers and better negotiating positions.

Of course, real estate is a highly local activity and this real estate market report is a macro-level analysis that needs to be considered in connection with all of the facts and circumstances of each proposed transaction between a buyer and seller. For information about recent sales and current listings in your neighborhood, visit free market snapshot and input your name, address and email and I'll send you this valuable report for free straight to you inbox. To search all listings in the Greater Birmingham area, visit Birmingham MLS. Whether buying or selling, having insight into market trends help in making better decisions to maximize the value achieved on each transaction.

I recently experienced a painful situation with a family member. After listing their property, I gave an agents open house and received the feedback that I knew: over priced and under conditioned. Of course this seller had no money to do updates yet refused to get the price to reality. "Three things sell a house. Price. Condition. Location. We cannot change the location and youve told me there is no money for updates, so we must accomodate with price" This house had four showings in 35 days. This meet deaf ears. Needless to say I gave the listing back after being told I did not know the market! Mind you, I was just named sales associate of the year for Birmingham. I guess it becomes even more frustrating when it's family. Today Ive been "dialing for dollars" on my sphere list to make me feel better after being abused.

How do you decide which are the best areas to buy in Birmingham? This would seem easy and of course there are a number of criteria for buyers such as quality / location of schools. Given that a home is normally the single biggest investment for a family, the best areas to buy would be where you expect to accumulate the most equity the fastest.

Everyone has heard about real estate values falling on the national level. And most of us have heard that the Birmingham real estate market has experienced less of a downturn and that the recovery locally will be faster and more robust than nationally. What you may not have heard is how values in specific areas within Birmingham have held up over the past 12 months in comparison to the past three years to determine the best arreas to buy. Knowing which areas have performed the best most recently can give buyers and sellers valuable insight in the decision-making process in a number of ways. Especially for buyers, knowing which areas have held their value the best and where demand is strongest can help in deciding the best areas to buy in Birmingham to improve the chances for quicker equity accumulation.  To search for any listed property in Grreater Birmingham, go to birmingham mls.

This analysis takes into consideration total sales (in units), average sales prices and median sales prices over the past 12 months in comparison to the prior 36 months to come up with the best areas to buy. This approach is not necessarily scientific or absolute but is based on historical data. My argument is that the downturn began approximately 36 months ago so looking at the past 12 months by comparison gives a snapshot at which areas are more robust. Areas where total sales, average and median sales prices have held up the best over this time frame would suggest future strength in values going forward and therefore the best areas to buy.

Using my approach as described suggests the best areas to buy in Birmingham with minimums of 100 units and 500 units over the past 36 months respectively. As shown in the tables below, Talladega County is strong under both scenarios with Helena / Pelham and Mountainbrook showing strength as well.

Top 10 Best Areas to Buy in Birmingham

Composite Score: Units, Sales Price, Median Price

Past 12 mos. vs. Past 36 mos. (min. 100 units)

1. 270A   Helena / Pelham (Jeff)
2. 266     Talladega County
3. 302B   Dora / Quinton / Sumiton (Walker)
4. 282B   Adger / McCalla / Oxmoor Valley (Tusc)
5. 200     Mountain Brook
6. 112B   Corner / Kimberly / Morris / Warrior (Jeff)
7. 142A   Leeds / Moody (Jeff)
8. 114     Blount Springs / Blountsville / Hayden
9. 210     Crestline Gardens / Crestline Park / Irondale
10. 230     Homewood

Top 10 Best Areas to Buy in Birmingham

Composite Score: Units, Sales Price, Median Price

Past 12 mos. vs. Past 36 mos. (min. 500 units)

1. 266     Talladega County
2. 200     Mountain Brook
3. 112B   Corner / Kimberly / Morris / Warrior (Jeff) 
4. 210     Crestline Gardens / Crestline Park / Irondale
5. 230     Homewood
6. 240     Liberty Park / Vestavia
7. 280     Bessemer / Hueytown / Pleasantgrove
8. 140A   Trussville (Jeff)
9. 180     Avondale / Crestwood / Highland Pk / Forest Pk
10. 272     Alabaster / Maylene / Saginaw
11. 150     Calhoun County

Of course there are many considerations besides macro-level value analyses that help determine the best areas to buy in Birmingham.  Making a home purchase decision necessarily involves many other considerations such as school quality, proximity to work, shopping, etc....  All of these considerations, however, drive value so, again, looking at this mathematically is the purest way to come to a conclusion on future values.  Gain valuable insight and statistical information for any community you may be considering at birmingham community information.  Or, if you want specific property information about recent sales or current listings for a specific area you are interested in (or possibly your own neighborhood if you are thinking about listing) go to free market report and sign up for a free Market Snapshot emailed to you monthly.

Buyers and sellers need all of the information possible in this market to help them find the best areas to buy given their needs.  Assessing values independently can help grow equity more quickly in your largest financial asset. 

70+ Foreclosures for sale in Birmingham Alabama for 10/31/09. Happy Halloween Birmingham Peeps. I hope everyone has a great and safe time tonight. Today's list of foreclosures includes homes in the following cities/areas of the greater Birmingham Alabama area: Fultondale, Birmingham, Center Point, Roebuck, Grayson Valley, Trussville, Leeds, Moody, Woodlawn, Eastlake, Tarrant, Crestwood, Irondale, Hoover, Oak Mountain, Brook Highland, Chelsea, Alabaster, Calera, Hueytown, Pleasant Grove, Bessemer, West End, Ensley, Fairfield, Belview Heights, Forestdale, and Adamsville.

38 New Listings:

http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=US11260880

37 New Price Changes:

http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=US11260881

Gusty Gulas is a Realtor in Birmingham Alabama for Realty South. Looking for a home in Birmingham? You found the right person to help! Call or email me today at 205-218-7560 or gusty1305@gmail.com You can also find me on Facebook and Twitter.

Fabulously maintained and updated mid-century modern gem. Located in charming old Hoover. Walk to Star Lake, Hoover Country Club, the new Publix and Starbucks. Well-known architect Gene Jones custom built this post and beam, passive-solar design for his own family in 1958. Only one other owner. Remodeled the kitchen matches for the original architectural style of the home. The new kitchen features quartz counter tops, custom cabinets with sliding glass doors on top, a unique floating shelf, large under mount sink, subway tile backsplash and stainless appliances including a gas stove and double oven. There are three bedrooms including a large master (16 feet by 12 ½ feet). Each room has ample closet space (master alone has four). There are two baths, a living room/dining room combination, large separate den with telescoping fireplace, an office, basement safe-room accessible from outside and by way of a trap door in office floor. This home is extremely private and features a wonderful courtyard with an outdoor fireplace and large covered sitting area—creating an additional outdoor room. Floor to ceiling walls of glass overlook the courtyard from the inside of the home. House has tons of closet space with built-in shelving in each. This is the only lot on the street deeded all the way down to the creek behind the house. The lot is huge and has a great deal of potential in the back for tiered decking and nature pathways. There is a small flat side yard and low maintenance front yard. This is a very special home with an abundance of unique and custom features. To directly access this property, use this shortcut: http://www.fizber.com/alabama-buy-single-family-home-11648945.html