The luxury real estate market is alive and well in Alabama, but of course, it's hotter in some areas than others. Properties on the white sandy beaches of South Alabama* are appreciating and selling quickly. However, compared to other beachfront luxury properties, they are under-priced--it's a great time to buy. Likewise, the luxury market at Lake Martin** in South Alabama is booming.
I live in Birmingham, the largest city in Alabama, and I've sold real estate here for more than 30 years Birmingham has not had the huge ups and downs in prices that many other cities have had. Our luxury market ($2 million and up) was good before 2008, but of course, everything went on hold then.
Now our business climate is extremely strong and the upper-end Real estate is just starting to come back, There are great buys. Now is certainly a great time to invest in Birmingham luxury real estate.
Ten years ago the Birmingham business community set out to attract, encourage and help entrepreneurs and innovators with their ideas for start-up companies. Their innovation depot, mentoring programs, financial backing has yielded a plethora of successful businesses, particularly in the tech, medical and biotech fields. One of the young companies was sold last year for $ 500,000+! This local wealth creation has certainly helped the luxury real estate market.
Birmingham is also attracting investors from around the country and abroad. Every week there is an announcement of a large purchase in Birmingham from a company from Texas, New York, California, Spain, etc. Many investors are scooping up the beautiful pre-Civil war buildings that were spared destruction. These are rare treasures that sat empty for many years but now are being refurbished. They add so much to the charming ambiance of downtown--along with warehouse lofts with infinity pools!
The luxury real estate market in Alabama is so diverse!. The Appalachians run through the northern part of the state down to central (Birmingham area). Many of my luxury listings have spectacular views. There are luxury equestrian estates and of course, there are golf estates. I am fortunate to live in Shoal Creek, a golf community with 1,500 acres of pristine forest, lakes, mountains, Nicklaus-designed course, and only 115 residences! 2-8 acre homesites and a few homes are for sale.
There is so much to love about Alabama! Mountains, beaches, Water--more rivers, lakes, creeks than you can imagine. Birmingham offers a great opera company, symphony, superb art museum which has constant outreach programs for the populace, the Civil Rights Institute, world-class medical facilities, and FRIENDLY PEOPLE.