Alabaster’s housing market cools in early 2018

By NEAL WAGNER / Managing Editor

ALABASTER – The city has seen a slight decrease in its new home and commercial building markets in the first few months of 2018 compared to the same time period last year, according to data recently released by the Alabaster Fire Department’s Planning and Safety Division.

The department presented its year-to-date numbers through the end of March to Alabaster City Council members during an April 23 meeting.

During March, the department released five new home building permits for projects valued at a total of about $1.6 million.

The five new homes approved in March brought the city’s year-to-date total to 12 homes valued at a total of about $3.7 million, according to the report. By comparison, the city had issued a total of 20 new home permits for projects valued at about $5.6 million through the first three months of 2017.

Residential addition and remodel permits also were down compared to last year. In March, the city had issued a total of 25 residential addition and remodel permits for projects valued at a total of $311,946, bringing the year-to-date total at the end of March to 43 such permits for projects valued at a total of $594.921.

In comparison, the city had issued a total of 59 residential addition and remodel permits for projects valued at a total of nearly $1.1 million in the first three months of last year.

The new commercial building sector also was down from last year at the end of March. The city issued one permit for a new commercial building valued at about $1.1 million in March, which accounted for half of the city’s two new commercial building permits so far this year.

During the first three months of 2017, Alabaster had issued permits for three new commercial buildings valued at a total of about $1.9 million.

In the commercial addition and remodel sector, the city issued three permits in March for projects valued at a total of $171,848, bringing the year-to-date total at the end of March to 11 for projects valued at a total of about $1.2 million.

During the same time period last year, the city had issued 17 such permits for projects valued at a total of about $1.3 million.