When it comes to Birmingham, AL real estate, it is essential for everyone from investors and potential homebuyers to current residents to remain up-to-date on what is happening. The information is relevant for investors wondering if they should be renting out their Birmingham, AL investment property and to homeowners wondering if now is a good time to sell a home. At the same time, it is good to keep up with new community developments for those already living in the area.
What, exactly, is going on in the local real estate market?
One of the best ways to gauge the current real estate market’s strength and its progress toward recovery is to look at home sales. In May, home sales totaled $296,177,859, which is a 29% increase from April of this year. Furthermore, this number is also a 31% increase from May 2012. This information reveals that confidence in the local real estate market is rising.
In addition to the increase in home sales, there has also been progressing in residential project plans for both Jefferson and Shelby counties. Specifically, there has been a 40% increase in residential building permits for these two counties in comparison to 2012. This information coupled with the rise in new home sales is exceptional news that points to improving real estate markets and local economies for Jefferson and Shelby counties.
Homewood’s New Recreation Center Progress Update At the same time, Homewood’s new recreation center is making progress. The project started in February with a projected cost totaling $16.2 million. The addition of this new recreation center – once completed – could go a long way to help increase nearby property values, which may be of interest to Birmingham, AL investors.
In conclusion, everything from the local real estate market to the economic outlook is definitely improving.
If you are a property owner that is looking for property managers in Birmingham, AL, then call upon gkhouses.com – allow us to manage the day-to-day aspects of your rental properties. Call us today at 205.940.6363.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.