New construction has been in high demand in Birmingham. Hoover and Vestavia have seen exciting new developments materialize in 2016.
Lake Wilborn in Hoover was approved and Signature Homes has announced construction of homes will begin in 2017. Signature also announced new townhomes in Ross Bridge and they have begun clearing land in the front of Ross Bridge for new single family homes. The Hamptons in Ross Bridge was probably one of the most successful new home developments in the Birmingham area as price appreciation was strong and new homes sold and resold relatively quickly. Sawyer Trail in Ross Bridge has also built out fairly quickly and has sold well. The original Magnolia Ridge sold out in 2016 and has been expanded with The Ridge with a few homes still available. The Preserve in Hoover has continued to thrive. 2016 saw a new phase of lots open up and new townhomes and duplexes.
After selling out Steelemont in the heart of Vestavia, Harris Doyle Homes now has has 61 lots now available in Altadena Ridge that offer an exceptional proximity to schools, shopping, parks, and the interstate. Liberty Park continues to expand with a variety of options. Vestavia continues to have high demand.
Buyers are finding new construction prices comparable to resale price per foot. We see high demand for new construction with smaller to medium size lots to be highly preferred.