The present housing market in Birmingham is down with high active listings and low sales volume. Home prices have decreased 23.0% in the past month. At the current sales pace, it would take over 13.5 months to sell all available homes in Birmingham, indicating an oversupplied market. Homes are now taking an average of 254 days to sell, significantly longer than the 46 days typical for this market. A significant 29.6% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Birmingham market with the affordability index at 6.6. Current trends suggest further price adjustments may occur as the market continues to favor buyers.
Birmingham, AL has a total population of 222,409 residents. African American residents comprise 64.8% of the community. The area shows moderate demographic diversity. As a large population center, Birmingham, AL offers diverse community resources and amenities.
Crime analysis for Birmingham, AL shows 943 total incidents across all categories. The most prevalent crime type is Assault (50.3% of all incidents). This is followed by Property Crime at 37.0%. The crime rate in Birmingham, AL is moderate, with violent crimes being more common than property crimes. Residents and visitors should remain aware of their surroundings and take appropriate safety precautions.
Market predictions for Birmingham, AL show an upward trend in home prices, with values increasing by 5.8%. This indicates a moderate but notable price trend. The current median home price in Birmingham, AL is approximately $213,235.254. Based on current trends, home prices in Birmingham, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Birmingham, AL features 7 investment hotspots with varying levels of activity. With an average nightly rate of $165, the market offers mid-range pricing opportunities. The average rating of 3.6/5 indicates moderate guest satisfaction. With an average hotspot score of 0.75, these areas show good investment opportunities. With 100 hotels, the area has a moderate level of accommodation options.
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