ACRE
MEDIA

Advancing Relationships.

toggle menu
Home prices on the rise nationwide, and in Alabama

Photo credit: Special to ACRE

Home prices on the rise nationwide, and in Alabama

Industries: Residential Real Estate

Markets: Birmingham Metro, Huntsville-Madison County, Mobile Area, Montgomery Area, Tuscaloosa Area

Home prices are on the rise nationwide. 

According to the recently-released Home Price Index for November (S&P Dow Jones Indices), the U.S. National Home Price Index grew by 10.4 percent in November, the National Home Builders Association said.

The median sales price for homes sold during December was $232,200 according to the National Association of Realtors, a 4 percent rise over December 2015. 

So where does Alabama stack up in the home price surge? 

As a whole, the state experience a 6 percent rise in its median sales price during 2016 at $141,442, compared to $133,991 during 2015. 

This establishes a new peak for the state and is 39 percent above the 2002 trough of $101,761. 

Here's how the tate's five metro markets performed in terms of pricing during 2016. 

 

Birmingham

2016 Median Sales Price: $183,396

2015 Median Sales Price: $175,658

Difference: 4.4%

Huntsville

2016 Median Sales Price: $181,498

2015 Median Sales Price: $171,383

Difference: 5.9%

Montgomery

2016 Median Sales Price: $143,688

2015 Median Sales Price: $135,892

Difference: 5.7%

Mobile

2016 Median Sales Price: $120,393

2015 Median Sales Price: $123,950

Difference -2.9%

Tuscaloosa

2016 Median Sales Price: $161,408

2015: Median Sales Price $156,879

Difference: 2.9%

Culverhouse

Advancing Relationships.