Are Alabaster home values on the rise?
Published 12:18 pm Friday, December 26, 2014
By NEAL WAGNER / Managing Editor
ALABASTER – With only two new home building permits issued in Alabaster in November, it wasn’t significantly higher than any other month this year. However, the predicted valued of the two new homes piqued the interest of the city’s leaders.
Through the end of November, the Alabaster Building Department had issued a total of 65 new home building permits for the year – the city’s highest number since the nation’s economic woes began in 2008.
Alabaster’s year-end new home numbers were 48 in 2009, 29 in 2010, 30 in 2011, 57 in 2012 and 61 last year, meaning the city is already on track to set a new high since the housing market downturn hit.
While providing the Building Department’s monthly update during a Dec. 22 City Council meeting, Ward 7 Councilman Tommy Ryals said the value of the new home permits issued in November caught his eye. The two permits were valued at a total of $492,858.23.
“They came with a value of almost half a million dollars,” Ryals said. “Maybe that’s an indicator that our home values are increasing.”
From January-November 2013, Alabaster issued 55 new home building permits valued at $10.6 million, compared to 65 permits valued at more than $13.9 million for the same period this year.