Birmingham Home Prices & Values

$386,700 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 12.4% 1-year change
  • 4.3% 1-year forecast

Market Temperature: CoolWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Birmingham is $386,700. Birmingham home values have gone up 12.4% over the past year and Zillow predicts they will rise 4.3% within the next year. The median list price per square foot in Birmingham is $263, which is higher than the Detroit Metro average of $103. The median price of homes currently listed in Birmingham is $559,000 while the median price of homes that sold is $419,496.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Birmingham is 1.6%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Birmingham homeowners underwater on their mortgage is 10.5%, which is lower than Detroit Metro at 26.5%.

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Relative ZHVI
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Birmingham Market Overview

Data through Jun 30, 2014
  • $386,700 ZHVI
  • 4.3% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $559,000 Median listing price
  • $419,496 Median sale price
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Birmingham Market Health

Data through Jun 30, 2014
  • 7.1/10 Healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • 10.5% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 1.6% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Bloomfield Hills $409,100 Bingham Farms $401,300 Beverly Hills $347,300
Huntington Woods $308,700 Troy $258,900 Royal Oak $186,500
Berkley $166,000 Lathrup Village $159,800 Clawson $150,300

Listings & Sales

Data through Jun 30, 2014
  • $263 Median list price / sq ft
  • $230 Median sale price / sq ft
  • 34.7% Listings with price cut
16.1%
Sold below listing
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Birmingham Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,096 Birmingham
$1,059 Detroit Metro
$1,310 United States
  • 2.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • No data Rent list price
  • $1.56 Rent list price / sq ft
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