Home Values

Hoover 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

$240,300

  • 1.9% 1-year change
  • 2.5% 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

Neutral

Buyers' Market
Sellers' Market

The median home value in Hoover is $240,300. Hoover home values have gone up 1.9% over the past year and Zillow predicts they will rise 2.5% within the next year. The median list price per square foot in Hoover is $123, which is higher than the Birmingham Metro average of $95. The median price of homes currently listed in Hoover is $303,000 while the median price of homes that sold is $225,702. The median rent price in Hoover is $1,200, which is higher than the Birmingham Metro median of $850.

Foreclosures will be a factor impacting home values in the next several years. In Hoover 0.8 homes are foreclosed (per 10,000). This is lower than the national value of 4.2

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 Hoover is 2.2%, which is lower than the national value of 6.4%. 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 Hoover homeowners underwater on their mortgage is 12.1%.

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Relative ZHVI
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Hoover Market Overview

Data through Nov 30, 2014
  • $240,300 ZHVI
  • 2.5% 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
    (Nov 30, 2015)
  • $303,000 Median listing price
  • $225,702 Median sale price
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Hoover Market Health

Data through Nov 30, 2014
  • 8.1/10 Very 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
  • 12.1% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 2.2% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

0.8 homes Hoover
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Mountain Brook $511,000
Lake Purdy $364,100
Indian Springs Village $301,900
Name Median ZHVI
Vestavia Hills $288,500
Meadowbrook $264,600
Homewood $261,100
Name Median ZHVI
Pelham $165,800
Helena $161,000
Lipscomb $47,100

Listings & Sales

Data through Nov 30, 2014
  • $123 Median list price / sq ft
  • $109 Median sale price / sq ft
  • No data Listings with price cut
32.6%
Sold below listing
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Hoover Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,609 Hoover
    $1,052 Birmingham Metro
    $1,342 United States

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

  • 2.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,200 Rent list price
  • $0.80 Rent list price / sq ft
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