Birmingham Real Estate Market Trends (February 2024)
- trentonvstokes
- Mar 19, 2024
- 2 min read
Housing Prices:
The median home price in Birmingham is currently $170,000, which represents a 4.7% decrease compared to last year1.
On average, homes in Birmingham are selling after 70 days on the market, slightly longer than the 42 days observed last year1.
In February 2024, 198 homes were sold, up from 196 during the same period last year1.
Market Competitiveness:
Birmingham’s housing market is somewhat competitive. Homes typically sell in 63 days1.
Some homes receive multiple offers, while others sell for around list price and go pending in approximately 30 days1.
Migration Trends:
28% of Birmingham homebuyers searched to move out of Birmingham, while 72% looked to stay within the metropolitan area.
Among those moving into Birmingham, Atlanta had the highest number of homebuyers, followed by Los Angeles and New York.
The most popular destination for Birmingham residents moving elsewhere was Huntsville, followed by Mobile and Montgomery1.
Overall Insights:
Birmingham’s median sale price is 60% lower than the national average.
The overall cost of living in Birmingham is 8% lower than the national average1.
Notable Properties for Sale:
1227 S 33rd St Unit B, Birmingham, AL 35205
Type: Condo
Price: $357,000
Bedrooms: 2
Bathrooms: 2.5
House Size: 1,178 sqft
Description: This updated townhouse-style condominium features stainless steel appliances, a gas fireplace, and a private backyard with a storage room2.
401 S 20th St #126, Birmingham, AL 35233
Type: Condo
Price: $356,900
Bedrooms: 3
Bathrooms: 2
House Size: 1,270 sqft
Description: Ideal for medical/dental students and healthcare professionals, this ground floor condo overlooks the pool and offers easy access to UAB and nearby amenities3.
Remember that real estate trends can vary, so it’s essential to consult with local experts for the most up-to-date information. If you have any specific questions or need further details, feel free to email or call us!🏡📊
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