Homewood Market Update: 2015-2024

With small town charm, walkable streets, and great schools, Homewood is one of Birmingham’s most desirable neighborhoods. With recent updates to downtown Homewood, new shops and restaurants in Edgewood, and new developments in West Homewood, there’s no doubt that this market is poised for continued growth.

While the data shows a drop in the number of homes for sale, the average sales price has been on a steady rise since 2015. Homewood has a wide range of price points to offer, making it a desirable location for all types of buyers. A large number of homes have been renovated or rebuilt, pushing the average sales price closer to the $1M marker, especially since 2020. The average sales price has nearly doubled in the past 10 years, demonstrating the consistent growth and vitality of the market.

What does this mean for buyers and sellers?

Buyers have a wide range of options in the Homewood market. From charming bungalows to luxury new builds, there’s something for everyone across a wide range of price points. However, the market is still competitive, with multiple offer scenarios widely common  for quality products in prime locations.

The competitive market gives sellers an edge in Homewood, especially with the confines of the city. Those who want to get in for the school system are bound to what is available, as there aren’t many areas of new construction. The steady rise in prices is great news for sellers, and the drop in the number of homes for sale give them a competitive edge.