How's the Market offers the latest analysis of the over the mountain real estate market from veteran real estate professionals Mike and Hayden Wald. Each week they'll share their insights on trends in the local housing market including, inventory, pricing, interest rates, and more.

Five Reasons Why Now Is the Perfect Time for Empty Nesters to Downsize


Strong Seller's Market: The real estate markets in Hoover, Homewood, Mountain Brook, and Vestavia still favor sellers. With limited housing inventory and soaring demand, you can expect competitive offers for your home. Bidding wars for homes in good condition and priced appropriately are still the norm, driving up sale prices. Steady Property Values: Home values in these areas have been on a consistent upward trajectory over the years. If you've owned your home for a while, it has likely gained substantial value. Selling now allows you to capitalize on this equity, especially as experts predict a potential slowdown in price increases. Optimal Downsizing…

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Just Sold for $35,000 Over List!


Discover this All-Brick Masterpiece on the 14th Green of Inverness Golf Course – Where Elegance Meets Perfection!

  • Impeccably updated and meticulously crafted to perfection.
  • Spacious living and dining areas for memorable gatherings.
  • A cozy ambiance with a white brick surround and honed granite hearth.
  • Dream kitchen with custom cabinetry, white quartz countertops, and GE Cafe Series appliances.
  • Master bath designed as a spa-like retreat with custom cabinetry and a free-standing soaker tub.
  • Enjoy dining al fresco on the terrace or soak in the scenic 14th green view from the illuminated staircase.




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First 90 Days Update: Over the Mountain Volume is Down, Prices Up

The Over the Mountain real estate market is sending mixed signals, but by historical standards it's still a Seller's market. Sales volume is down 27%. Prices are up 7.8% and Days on Market increased from 3 days during the first 3 months of last year to 4 days, this year.

First 90 Days of 2022

950 homes sold with median days on the market of 3

Average list-to-sales price 101.8%

Average sold price $492,553

First 90 days of 2023

690 homes sold with median days on the market of 5

Average list-to-sales price 99.96%

Average sold price $531,084

During the first 90 days of 2022, 260 more over-the-mountain homes were sold than during the first 90 days of this year.…

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First 60 Days: The Market's Still Strong! 

      

There are interesting comparisons for the over-the-mountain housing market during the first 60 days of 2022 and 2023. The most important finding is that it's still a seller's market despite the increase in mortgage rates.

2022

534 homes sold with median days on the market of 3

Average list-to-sales price 101.2%

Average sold price $484,819

2023

380 homes sold with median days on the market of 5

Average list-to-sales price 99.27%

Average sold price $528,102

During the first 60 days of 2022, 154 more over-the-mountain homes were sold than during the first 60 days of this year. That's a 29% drop in unit volume. However, the average sales price for homes sold this year was 8.9%

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Ten Charts that Show Why We're Not Heading for a Housing Bubble

During the pandemic, it was feared that the large number of borrowers in forbearance would eventually result in tide of foreclosures that would take the down the housing market. The following chart shows that those fears were unfounded.

Chart #2 shows that 81.6% of the borrowers in forbearance have successfully exited.

Chart #3 shows that the crazy loan products (red graph) that existed in the late 90's to the mid 2000's are no longer offered! The orange graph shows that lending standards are far stricter now than they were in the mid 2000's.

Chart #4 Shows that the level of foreclosures is historically very low.

Chart #5 shows that lenders are making nearly as…

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Beautiful 5 Bedroom, 4 Bath Home in Warren's Cove

1661 Warren Lane

Prime location in the Warren Cove Subdivision of Vestavia, this all brick home with beautiful stone detail boasts 5 bedrooms, 4 bathrooms and an ideal floor plan that provides ample space for living and entertaining. The stunning 2 story foyer allows for sun drenched living spaces and highlights the gleaming hardwood floors. The large open kitchen features granite countertops, stainless steel appliances, and center island with seating. Spacious primary bedroom with private ensuite complete with double vanity, glass shower and separate tub. Outside enjoy the covered stone patio that is the perfect place for relaxing after a long day or hosting gatherings with friends. Situated on…

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Beautiful 5 Bedroom, 4.5 Bath Home in Cobble Hill

2600 Cobble Hill Way

This Beautiful home was listed for $599,900 and after receiving multiple offers went under contract for $$635,000.

Located in the gated Cobble Hill Community this spacious 5 bedroom, 4.5 bathroom home offers plenty of space for everyone inside and out. Downstairs features an open layout with living room, formal dining room, gleaming hardwoods, and beautiful kitchen with granite countertops, stainless steel appliances, walk-in pantry and island. The main level primary boasts a large private bath with double vanity and 2 walk-in closets. Upstairs find a 2nd primary, playroom and bonus room great for den or study. Plenty of windows throughout create a bright and beautiful…

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Lovely 3 Bedroom, 2 Bath Home in Cahaba Heights!

3036 Greenview Road

This lovely home was listed at $315,000. After receiving multiple offers, it sold for $330,000!

Location, Location, Location! One Block from Cahaba Heights Elementary School, ball fields, dog park, and Parkside at Dolly Ridge, Cahaba Heights newest restaurant and retail development. This beautifully updated 3 bedroom, 2 bathroom home has a long list of charming features for any new homeowner. Inside, you are greeted with a spacious living room with an all brick fireplace for your enjoyment. In the kitchen you will find tile countertops and backsplash, gas stove and ample cabinet space. The spacious sun drenched bedrooms boast newly refinished hardwood floors. Outside, you…

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Just Sold! 118.8% of List Price 3133 Canterbury Place

Incredible 3 bedroom, 2.5 bathroom home located on a highly sought after Cahaba Heights cul-de-sac. This adorable property features beautiful hardwoods and updates throughout. Kitchen boasts sparkling granite countertops, stainless steel appliances, breakfast bar, vaulted ceilings and flows right into the living room which makes this the perfect space for relaxing or entertaining. Main level primary suite invites comfort and exudes modern elegance with shiplap accents, double vanity and large soaking tub. Additional bedrooms are spacious and light filled. Plenty of space to entertain and enjoy the outdoors on the large back deck. Full basement with 2 car garage. Just minutes away from shopping…

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Beautiful 4 Bedroom, 2.5 Bath Home Near Vestavia High School

2232 Gay Way

Situated perfectly on a large beautiful lot, this traditional all brick home offers plenty of living space inside and out. The main level features gleaming hardwoods and a sun filled formal living and dining room perfect for entertaining or day to day living. Kitchen with stainless steel appliances and eat-in area that opens to a spacious covered back deck that makes the transition from indoor to outdoor living a breeze. 4 generous sized bedrooms, 2.5 bathrooms and gracious attic storage. Backyard features a patio area with plenty of privacy from the mature landscaping that surrounds the property. Just minutes away from parks, shopping and Vestavia's award winning schools.

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