Birmingham, AL

New Construction Comes to Crestwood

Roxanne Hale

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Photo Courtesy of Willow Homes and Tommy Daspit

As a realtor, I’ve been in love with Birmingham's Avondale and Crestwood areas for years. Charming historical homes, affordability, and walkability make it an appealing place to live. I’m not the only one who feels this way. Avondale and Crestwood are extremely hot housing markets right now in a very heated marketplace. Our clients regularly add them to their “home shopping list.”

One thing that’s been missing is the availability of new homes in the area. That appears to be changing.

Changes in Crestwood and Avondale Over The Past Five Years

Crestwood and Avondale are earning their reputations as a foodie hot spot - lots of popular restaurants and treat shops have opened over the past few years. Post Office Pies and Magic Cookie Dough are on my kid’s quick list of places to eat when we are in the area. My husband and I like Automatic Fish - when we can get a table!

The craft beer market has been awesome for the area, too, with fun locations like Cahaba Brewing Company and Hop City Craft Beer and Wine. Residents of Crestwood and Avondale benefit from Birmingham’s Pepper Place Farmers Market too.

Drive around Crestwood and Avondale on a Saturday afternoon, and you’ll see plenty of walkers enjoying the many neighborhood sidewalks. There are three large parks with playgrounds and sports facilities, too!

In recent years, the real estate sales statistics for Crestwood, Avondale, and Highland Park tell a story of growth and improvement in the area. There were 446 home sales in the area in 2014. The average final sales price was $255,058, with sellers getting just 5% less than their asking price. Homes averaged 78 days on the market.

Just five years later, in 2020, the area saw a 16.6% increase in home sales. 534 homes sold last year. The average final sales price was $349,538 – with sellers seeing almost no reduction in offer price versus the list price. That’s a 27% increase. Homes sold much faster than in previous years, with properties only lasting 27 days on the market.

Currently, there is less than one month's supply of homes on the market, and the average price for those homes is $381,891. Realtors report that most homes go quickly with multiple offers in the first weekend.

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Photo Courtesy of Willow Homes and Tommy Daspit

Builders and Renovators in the Crestwood, Avondale Market

Many of the cottage bungalows around Crestwood and Avondale were originally constructed from 1920 to-1930s with a pause during the Great Depression. Construction picked up after the war with a style change to the brick rancher with attached garage.

These neat old homes are aging, and many need updating and repairs. Now that people’s homes are worth more, they can access home renovation cash to update their home, add on, or make those expensive, needed repairs. Builders and renovators are finding no shortage of work here.

In the past five years in Crestwood, Avondale, and Forest Park, 51 new homes were constructed. That’s a 60% increase over the previous five-year period when only 21 new homes were built. Average sales prices for newly constructed homes jumped from $404,580 to $542,804.

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Photo Courtesy of Willow Homes and Tommy Daspit

New Home Opportunities In North Crestwood

My husband’s company, a local homebuilder, Willow Homes, has designed, renovated, or built 23 homes in the neighborhood in the past couple of years.

Willow Homes currently has many new construction homes going up in the area ranging in price from $399,900 to $550,000. Requests for renovations are on the rise as well. Willow Homes has seven large renovations in their pipeline with an average construction price of$90,000 - $150,000.

The most exciting project is happening around 59th and 60th Street, where they have designed seven brand new homes. Four homes being built on 60th Street are taking the place of an old family residence recently crushed by a huge oak tree that toppled over in a storm this past year. Thankfully, no one was hurt, but the house had to be demolished.

There are three brand new homes under construction on 59th Street, where previously abandoned homes sat. The neighbors are thrilled to see the new homes in place of the dilapidated houses and overgrown vegetation. Willow Homes has worked hard to design homes that respect the neighborhood's historic charm. This has helped to increase property values of neighboring homes in the area too!

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Rendering Courtesy of Barry Delozier, Birmingham Based Plan Designer

Summary

Crestwood and Avondale have remained popular all these years, thanks to their character and personality. All the vibrancy and growth in the area have allowed home prices to rise, which in turn allows its residents a chance to improve their homes. If you’ve ever considered buying a home in the Crestwood and Avondale area – you better get moving! It’s one of the hottest home markets in Birmingham.

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Roxanne Hale, owner, and broker of Arthouse has spent over 20 years in the real estate business. Here you'll find a collection of stories about buying and selling real estate & home building advice, housing history, and architecture & design tips. Oh, and some fun personal stories every now and then!

Homewood, AL
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