Homewood is one of Birmingham's most sought after neighborhoods. The schools, the convenience, and the local charm make it a great place to live, and whether you're looking for a bungalow, new build, or historic home, there's something for everyone. Here's a look at the latest in Homewood for 2024.
Market Highlights:
Available Listings: Currently, there are 22 single family homes available in Homewood.
Average List Price: The average asking price stands at $836,872 - all but 5 listings are over the $500,000 mark.
Days on Market: On average, homes are selling within 38 days.
Emerging Trends:
We're keeping an eye on two key trends that are shaping the market:
Condo Market: Homewood has many popular condo buildings and a strong condo market. This year, the average sale price for a condo is $323,777. On the luxury side, condos are selling for as much as $805,000.
West Homewood is growing in popularity as more businesses and restaurants move in. The average sales price in the area sits at $357,083, making it a popular spot for first time homebuyers.
What's Next:
Homewood continues to grow and remains a sought-after location within Birmingham. With a range of price points, it's popular with first time homebuyers and buyers looking to move up. With easy access to local universities like Samford and UAB, investors looking to tap into the rental market have a wide range of potential tenants. With the growing popularity of West Homewood, and the new restaurants and construction in Downtown Homewood, homebuyers continue to seek out the small-town feel and lifestyle the city offers.