LIST Birmingham - October 2020

LIST Birmingham - October 2020

M E L V I N ’ S M O N T H L Y M O M E N T S

OCTOBER 2020

205-223-6192 WWW.MELVIN.LISTBIRMINGHAM.COM

THE NUMBERS GAME A Closer Look at Birmingham Area Real Estate Sales

BIRMINGHAM AREA REAL ESTATE SALES STATISTICS JAN. 1 - AUG. 15, 2020

One of my clients sent word that he would really like to see the real estate statistics for the area, so, Lyle, this edition is for you. Our area is filled with the spirit of great competition. Cities always want to beat one another when it comes to sports. We have competition within cities and among schools within those cities. There’s competition and school pride at nearly every level. But for real estate, there is something here for everyone. Crestline homes sell for the highest price per square foot, but homes in the Mt. Brook elementary zone have the highest-priced homes — that is to say, they are generally larger. Homewood can lay claim to the highest average price per square foot (homes are smaller in Homewood on average than Mt. Brook). Surprisingly, Cahaba Heights has the highest price per square foot in Vestavia (smaller homes in a very popular area). Meanwhile, Hoover boasts the highest number of homes sold. You get a bigger bang for your buck in Shelby County. Trussville, with a great school system and lots of civic pride, offers what we call a great “buy” opportunity. But do not get too focused on the average price per square foot. There is a lot of variety in each of these markets. In pockets of Mt. Brook and Homewood, the price will easily go over $300 a square foot. Want to get a better idea of how these numbers really break down? Look no further! Here is a breakdown of area stats from this year so far. If you have questions about anything, don’t hesitate to get in touch.

Average Sales Price

Average Square Foot

Average Price Per Square Foot

Highest Price Home Sold

Units Sold

Edgewood Elem.

107 $536,618 2,143 73 $479,383 2,152 86 $377,101 2,176 266 $470,014 2,157 73 $872,724 3,305 58 $919,615 3,862 52 $611,881 3,749 56 $617,539 3,484

$250.41 $1,350,000 $222.76 $1,550,000 $173.30 $1,482,500 $217.89 $1,550,000 $264.06 $2,549,000 $238.12 $2,200,000 $163.21 $1,500,000 $177.25 $1,850,000

Shades Cahaba Elem.

Hall Kent Elem.

Homewood

Crestline Elem. Mt. Brook Elem.

Cherokee Bend Elem. Brookwood For. Elem.

Mt. Brook

239 $774,540 3,602

$215.03 $2,549,000

East Elem.

95 $535,909 3,361

$159.45 $1,229,000

West Elem.

105 $403,193 2,629

$153.36 $1,300,000

Dolly Ridge Elem. Cahaba Heights Elem. Liberty Park Elem.

92 $540,265 3,350

$161.27 $1,325,000

78 $463,048 2,740

$169.00 $1,195,000

87 $593,440 4,047

$146.64 $2,170,000

Vestavia

457 $504,810 3,203

$157.61 $2,170,000

Spain Park High

356 $409,691 3,160

$129.64 $2,750,000

Hoover High

840 $392,894 2,786

$141.03 $1,150,000

Oak Mountain

312 $433,614 3,222

$134.56 $5,500,000

Chelsea

507 $343,671 2,567

$133.88 $1,325,000

Pelham

300 $290,474 2,384

$121.85 $795,000

Helena

322 $293,916 2,270

$129.49 $620,000

Alabaster

342 $235,847 2,106

$112.00 $750,000

Trussville

437 $318,497 2,645

$120.41 $890,000

-Melvin Upchurch

United States

3.8M $320,000 2,601

$123.00

$240M

• 1 WWW.MELVIN.LISTBIRMINGHAM.COM

NATURE CAN KEEP HEALING POST- QUARANTINE — HERE’S HOW

It’s often overwhelming to shop for a new home because it’s nothing like shopping for a T-shirt or even a car — it’s a purchase that can last lifetimes. What do you look for first? Where can you start? Here are three things to pay attention to as you begin searching for the perfect home. Are You Ready for Your Dream Home? 3 SIGNS YOU’RE BUYING THE IDEAL PROPERTY FOR YOU

The COVID-19 pandemic has brought about a mixed bag of consequences. One upside seems to be that as water and air pollution decreased, even briefly, the natural world was starting to heal. Reports circulated of dolphins returning to Venice’s canals, which gave people hope. But when those stories turned out to be false, they just as quickly felt despair. Another downside is that health concerns have led to a dramatic increase in single-use plastics, which generate more waste. Despite these negatives, nature has an incredible ability to heal itself, and there are things we can do to help nature along and stay hopeful. Frans Schepers, managing director of Rewilding Europe, told Forbes.com that nature is healing, and the trend started long before COVID-19 changed our daily lives. “If people release pressure on nature, as we can see happening now, nature bounces back,” Schepers said. “There is a huge resilience in nature to restore itself, which gives a lot of hope. It’s also good news for people because we depend on nature and everything it provides, such as clean water and clean air.”

No. 1: The historical sale prices (on the prospective property and local properties) have been on a consistent uptrend.

Traditionally, one of the safest investments a person can make is in real estate. Economic recessions can often flip the national and local markets upside down. That’s why historical sale prices can tell you about the general growth of your specific local area. Simply comparing properties to those currently in neighboring cities, or even nationally, might not give a full picture of the location’s long- term desirability. The rise in historical prices is what matters in a time where communities are recovering at different rates.

So, how can we do our part to help the environment continue to heal?

Whether you’re at home, in the office, or in your car, focus on conserving energy. When shopping for home or office equipment, look for supplies with the ENERGY STAR label. The Centers for Disease Control and Prevention recommends that people carpool, bike, or walk whenever possible, and when they must use their vehicles, drivers should fill up their tanks carefully and only purchase gasoline containers labeled “spill-proof” for maximum gasoline efficiency after purchase. There’s plenty of opportunity to conserve energy at home, too. Heating, ventilating, and air conditioning (HVAC) systems account for 30%–40% of most electricity bills. The right HVAC technician can give you advice on effectively insulating and ventilating your home and also utilizing natural light and energy-efficient lighting systems to reduce both your energy consumption and your bills (not to mention updating your ventilation system will improve your air quality).

No. 2: The neighborhood has an influx of jobs and growing household incomes.

While the recent economic circumstances have made drops in employment a national phenomenon, a recent steady influx of jobs can indicate a path to economic recovery. Also, it’s good to keep in mind that a neighborhood with healthy household incomes can boost the home prices for the entire neighborhood as a whole, since wealthier homeowners will maintain and renovate their property. Use the census >Page 1 Page 2 Page 3 Page 4

melvin.listbirmingham.com

Made with FlippingBook - professional solution for displaying marketing and sales documents online