Forest Park & Redmont Market Update: (2015-2024)

Renowned for their architectural beauty and tree-lined streets, Forest Park & Redmont are two of Birmingham’s most iconic, historic neighborhoods. From bungalows to 1920s mansions, these areas have something for everyone. Proximity to local shops and restaurants and downtown Birmingham  make these neighborhoods highly desirable, and the recent bump in sales price shows there’s no slowing down.

Over the past 10 years, the neighborhood has seen a rise in not only average sales price, but in the number of homes selling in the upper echelon of prices. In 2015, just 5 homes sold over $1M. Fast forward to 2024, where 16 homes sold over the million dollar mark, three of which sold over $2M. While prices continue to rise, the number of homes available for sale fluctuates year to year. This neighborhood has a mix of long established residents who might not move for many years and first-time homebuyers who might look to upgrade in a shorter amount of time.

What does that mean for buyers and sellers?

Depending on how many homes are available, buyers could find themselves in tough competition. However, looking at the data, buyers can see that the largest number of homes sell in the $600,000 - $800,000 range, giving them a good idea of what they’ll be spending. Outliers are more rare, but certainly creeping up.

Sellers, especially those who have been in the neighborhood 10+ years, can look at the rise in average sales price and feel confident with their investments. As always, pricing and condition are key factors, but the consistent rise in prices post-Covid show that despite higher interest rates, buyers are still clamoring to get in the neighborhood.