Home sales numbers in Alabaster remained stable in February with 31 closed sales (up from 30 in January). The average sales price was $168,175 - up from 135,867 last month when we had a glut of foreclosures being purchased out of the market. Sales ranged from $65,000 for a 3 Bedroom, 2 Bath in Mountain View to $550,000 for a 5 Bedroom, 4.5 Bath new home at Sterling Gate. Currently there are 366 properties on the market. Building has all but stopped in the numerous new home subdivisions along HWY 119 near Veterans Park and there are some good deals that can be found there as builders try to shrink some of their standing inventory. Many subdivisions have the streets and sewer in but only 5 or 6 homes. This doesn't look good right now, but it reminds me of Plano Texas in the late 80's when we had the LAST housing crisis. I flew over Plano on the approach to DFW airport and I can remember seeing 1 house all by itself surrounded by miles of streets going nowhere. I flew over 2 years later and there were completed subdivisions everywhere. If you like these homes, NOW IS THE TIME TO BUY. These neighborhoods WILL come back and be finished out sooner than you think.
Looking for a new home? Check out the inventory of completed homes in Alabaster, Alabama or the Greater Birmingham Area at my website www.ToniBird.com.