As we navigate 2024, our goal is to keep you up to date and informed on your local market. Let's dive into the latest stats in Mountain Brook's Real Estate scene.
Market Highlights:
Available Listings: Currently, there are 36 properties on the market. We're still experiencing a shortage in inventory, but more and more houses are coming on the market as we settle into spring
Average List Price: The average asking price stands at $1,354,444, reflecting the premium homes that Mountain Brook offers.
Days on Market: On average, homes are selling within 54 days, with some moving as quickly as 31 days – a testament to the demand for the area.
Median List Price: With a median list price of $899,000, there's a variety of options for different budgets.
Emerging Trends:
We're keeping an eye on two key trends that are shaping our market:
Inventory Dynamics: With only 36 listings, options are fairly limited for buyers, and we're still experiencing a seller's market. With an inventory shortage, it's important for buyers to act quickly and have a strong game plan in place when making an offer.
Interest Rate Influences: Interest rates are always a hot topic, affecting buyer enthusiasm and purchasing decisions. We keep a close eye on rates and stay in contact with local lenders to ensure our clients are informed and aware of all of their choices.
What's Next:
Mountain Brook continues to be a sought-after location for buyers in Birmingham. Despite the limited inventory and fluctuating interest rates, the charm and quality of life Mountain Brook offers is top tier. Overall, the area stats have held strong despite some rockiness in the market. If you're thinking about buying or selling in the area, we'd be happy to put our expertise and market knowledge to work for you.