48009 Home Prices & Values

$392,700 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

  • 8.3% 1-year change
  • 4.7% 1-year forecast

Market Temperature: ColdWhat'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 zip code relative to other zip codes in the same metropolitan area. A particular zip code 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 48009 is $392,700. 48009 home values have gone up 8.3% over the past year and Zillow predicts they will rise 4.7% within the next year. The median list price per square foot in 48009 is $260, which is the same as the Birmingham average of $260. The median price of homes currently listed in 48009 is $549,000 while the median price of homes that sold is $400,450.

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 48009 is 1.4%, which is lower than the national value of 6.9%. 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 48009 homeowners underwater on their mortgage is 10.2%, which is the same as Birmingham at 10.2%.

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Relative ZHVI
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48009 Market Overview

Data through Aug 31, 2014
  • $392,700 ZHVI
  • 4.7% 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

    (Aug 31, 2015)
  • $549,000 Median listing price
  • $400,450 Median sale price
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48009 Market Health

Data through Aug 31, 2014
  • 7.7/10 Very 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 days on Zillow
  • 10.2% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 1.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI Name Median ZHVI Name Median ZHVI
48301 $444,300 48025 $371,600 48098 $368,700
48304 $345,600 48084 $285,400 48073 $184,100
48072 $164,100 48017 $148,000 48076 $138,800

Listings & Sales

Data through Aug 31, 2014
  • $260 Median list price / sq ft
  • $245 Median sale price / sq ft
  • 45.8% Listings with price cut
19.3%
Sold below listing
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48009 Rentals

Data through Aug 31, 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
$2,186 48009
$2,176 Birmingham
$1,328 United States
  • 2.1 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, 2014)
  • No data Rent list price
  • $1.56 Rent list price / sq ft
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