Home Values

Birmingham Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$58,200

  • -5.4% 1-year change
  • 1.0% 1-year forecast

Market Temperature

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

Cold

Buyers' Market
Sellers' Market

The median home value in Birmingham is $58,200. Birmingham home values have declined -5.4% over the past year and Zillow predicts they will rise 1.0% within the next year. The median list price per square foot in Birmingham is $57, which is lower than the Birmingham Metro average of $96. The median price of homes currently listed in Birmingham is $79,900 while the median price of homes that sold is $87,477. The median rent price in Birmingham is $750, which is lower than the Birmingham Metro median of $850.

Foreclosures will be a factor impacting home values in the next several years. In Birmingham 0.1 homes are foreclosed (per 10,000). This is lower than the national value of 4.5

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 5.5%, 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 Birmingham homeowners underwater on their mortgage is 32.7%.

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Relative ZHVI
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Birmingham Market Overview

Data through Oct 31, 2014
  • $58,200 ZHVI
  • 1.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $79,900 Median listing price
  • $87,477 Median sale price
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Birmingham Market Health

Data through Oct 31, 2014
  • 1.5/10 Less healthy
    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
  • 32.7% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 5.5% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI
Mountain Brook $518,600
Vestavia Hills $292,500
Homewood $264,700
Name Median ZHVI
Gardendale $140,900
Irondale $118,100
Fultondale $113,900
Name Median ZHVI
Forestdale $97,300
Fairfield $64,200
Tarrant $47,800

Listings & Sales

Data through Oct 31, 2014
  • $57 Median list price / sq ft
  • $57 Median sale price / sq ft
  • 32.9% Listings with price cut
36.8%
Sold below listing
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Birmingham Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $743 Birmingham
    $1,045 Birmingham Metro
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $750 Rent list price
  • $0.70 Rent list price / sq ft
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