The Homewood condominium market has not changed much in the last six months. There are more active listings in all price categories than in the pending and sold category. Listing price are on the rise, but statistically this is the same market. This is neither a sellers nor a buyers market.
There are more active condominiums below $100,000 than condominiums that have sold in the last six months. There are currently 15 active listings in this price range with an average list price of $84,060. There is currently one pending property at $97,500. There have been 8 sold properties, since February 11, 2009. The average list price was $86,888 and the average sales price was $83,284 with buyers averaging a 4.1% reduction of the sales price. The average days on the market are 113 days. Currently and in the past, buyers can find one and two bedroom condos in this price range.
There are more active condominiums between $100,000 and $200,000 than have sold in the last six months. There are currently 20 active listings in this price range with an average list price of $122,850. There is currently one pending property at $116,900. There have been 15 sold properties, since February 11, 2009. The average list price is $116,180 and the average sales price is $112,105 with buyers averaging a 3.5% reduction of the sales price. The average days on the market are 68 days. Currently and in the past, buyers can find one, two, and three bedroom condos in this price range.
There are more active condominiums above $200,000 than condominiums that have sold in the last six months. There are currently 57 active listings with an average list price of $391,541. There are currently 36 pending properties with an average price of $432,999. There have been 9 sold properties, since February 11, 2009. The average list price is $357,220 and the average sales price is $354,697 with the buyers averaging a 0.7% reduction of the sales price. The average days on the market are 36 days. Currently and in the past, buyers can find one, two, and three bedroom condos in this price range.
ZIP Codes: 35216, 35209 Approximate Location Boundaries: Homwood Condominiums
Location Characteristics: The city of Homewood is located in the southeastern part of Jefferson County in the state of Alabama. It is a suburb of Birmingham and is located on the opposite side of Red Mountain just south of the city center. Convenient shopping, exquisite restaurants, and top rated hospitals are only minutes from any location.
Homewood has three public elementary schools; Edgewood, Hall Kent, and Shades Cahaba. These elementary schools feed into Homewood Middle School and Homewood High School. The city has a first-rate public library and places a high priority on fine arts, education and programs. Homewood is also home to John Carroll High School, Samford University, and Virginia College all private schools.
The city has five public parks; Homewood, Overton, Patriot, West Homewood, and Woodland Park. All of these parks are conveniently spread throughout the city and are well maintained. The Homewood Parks and Recreation Board sponsor many events throughout the year such as Free Friday Flicks during the summer, The Back to School Bash, The Fall Festival, The Christmas Parade, an Easter Egg Hunt, and We Love Homewood Day.
About Wess Short:
My name is Wess Short. I attended the University of Alabama at Birmingham and received an undergraduate degree in Social and Behavioral Sciences in May, 2002. I started my real estate career in September, 2002 with RealtySouth after completing the 60 hour pre licensing course. My first listings and sales began in 2003 working with many first time buyers, condos, and new homes. I have earned many designations endorsed by the National Association of REALTORS® including Accredited Buyer's Representative (ABR®), e-PRO® Certification for Internet Professionalism, & The Graduate REALTOR® Institute (GRI). I have the experience and education to make your home search simple and hassle free. Call me!!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
