Real estate numbers for Alabama have continued on a positive trend lately, which is great news for everyone in the state. The Birmingham metro area in particular, however, has even more reason to celebrate. According to a recent article from the Birmingham Business Journal, the real estate success in the Birmingham area has been the main factor in the overall positive real estate momentum in the state.
Our Ross Bridge community is located in Birmingham’s largest suburb of Hoover, located in Jefferson County. We couldn’t be happier to have our homes and community located in the Birmingham metro area – we love the great state of Alabama, but we know that proximity to bustling Birmingham is a major benefit to communities such as ours.
According to information from MBA students at the University of Alabama, the residential occupancy rate in Birmingham was an outstanding 93% in 2013. Additionally, the average price per square foot in Birmingham was 78 cents in 2013.
These impressive numbers are due, in part, to the revitalization of downtown Birmingham, which has not only been attracting residents, but also investors and businesses. Old warehouses downtown are being renovated to breweries and restaurants, and historic buildings are being converted to mixed-use buildings containing a combination of apartments, dining, retail and entertainment options. This has all lead to a more vibrant, thriving downtown area and a renewed pride in beautiful Birmingham for residents.
Birmingham isn’t only an exciting place for residents, but also for businesses, who are recognizing the area’s recent upswing. In 2013, Alabama had a 91% industrial space occupancy, which is on trend with the rest of the nation, according to the University of Alabama MBA students.
With both residents and businesses attracted to the Birmingham area, it’s no wonder that it’s such an important real estate market for the state’s overall success. The recent information from the University of Alabama seems to confirm a prediction that Al.com made earlier in the year – that the Birmingham-Hoover metro area appeared to be the most likely area to lead Alabama in its housing recovery.
At Ross Bridge, we’re proud to be a part of the Birmingham metro area for many reasons, but having the opportunity to be a member of such a strong real estate market is certainly one of the most exciting benefits. We’re thrilled to offer new construction single-family homes in an incredible location. Being in Hoover means that our residents have easy access to all that the city of Birmingham has to offer, but being located in a resort-style community means that residents also enjoy a feeling of privacy and the benefits of numerous amenities, including historic walking trails, a beautiful clubhouse, and a Robert Trent Jones Trail golf course located in their community. We’re looking forward to seeing what great things the future has in store for the Birmingham metro area and its real estate market, and how our community of Ross Bridge will continue to benefit from its location in the Birmingham metro area.
SOURCE: Birmingham Business Journal, Al.com