The real estate market in the Birmingham metro remains relatively tough to navigate, with inventory still at historically low levels. In fact, in many Birmingham-area communities, homes are not staying on the market much longer than a month at a time.

If you are looking to buy or sell a home in the Birmingham metro, here are some stats you may want to consider:

Birmingham real estate numbers at a glance

For July 2024, home prices in areas like Homewood, Mountain Brook and Pelham saw a double-digit increase percentage-wise in median home prices compared to July 2023.

The Alabama Center for Real Estate shows interesting trends for July in the Birmingham market.

Here’s a look at some of the Birmingham metro communities in July:

Birmingham	Median Home Price: $148,250	% Change from 2023: -11.2	Median days on market: 49
Hoover	Median Home Price: $440,000	% Change from 2023: -4.1	Median days on market: 42
Homewood	Median Home Price: $575,000	% Change from 2023: +17.3	Median days on market: 32
Vestavia Hills	Median Home Price: $480,000	% Change from 2023: -0.6	Median days on market: 28
Mountain Brook	Median Home Price: $870,000	% Change from 2023: +16.8	Median days on market: 12
Trussville	Median Home Price: $412,000	% Change from 2023: -3.5	Median days on market: 49
Pelham	Median Home Price: $312,750	% Change from 2023: +13.9	Median days on market: 60
Alabaster	Median Home Price: $318,000	% Change from 2023: -0.6	Median days on market: 43
Gardendale	Median Home Price: $310,660	% Change from 2023: +17.2	Median days on market: 60
Chelsea	Median Home Price: $357,500	% Change from 2023: +5.2	Median days on market: 62

Low inventory in Birmingham metro

As rates have trended down recently, more people are buying homes in the area, but according to local real estate agents, the inventory in the area is still quite low. And, the market remains a sellers market for now.

“The real estate in Birmingham is still tough to navigate for buyers because the inventory is still historically low. In the upper bracket market, we are still seeing a lot of cash buyers that seem to be unaffected by the fluctuation of interest rates. Personally, I think that renovation/building costs are a big driving factor on this side of the market.”

Langston Hereford, RealtySouth

If a buyer is willing to take on home updates themselves at a gradual pace, equity comes easier, Hereford said.

“When my husband and I bought our first home, we would paint one bedroom at a time and renovate a bathroom ourselves. it seems now the buyers want it all done instantly. I tell my buyers if they want to use this market to their advantage, they should buy a home they can make their own over time.”

Langston Hereford, RealtySouth

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