Montgomery’s Real Estate Market

Montgomery was hit pretty hard during the financial crisis nearly a decade ago, but there have been vast improvements since then.  Homeowners are no longer sitting with negative equity and there are more movements in the market.  Montgomery wasn’t the only community taking a while to recover but it seems they are on the right path and Montgomery’s real estate market is looking good.

Price Growth

Prices in the region are continuing to see some growth over previous years and they are ahead of the national average.  While price growth is ahead of the national average the median price of a single family home is not.  The average price of a home in Montgomery sits at just under $140,000 making the area very affordable to new and first time home buyers.  This affordability is helping millennials get on track for home ownership.  With interest rates staying low there is expected to be a spike in sales.

The Local Economy

The growth of the economy at the national level has helped turn things around in Alabama but the local economy has been a better indicator of the real estate market.  Unemployment rates in the area again are sitting better than the national average but local growth isn’t as good as it could be.  Here is a closer look at the local real estate market in Montgomery, Alabama.

Affordability

One of the best aspects of the Montgomery housing markets is the affordability.  There is ample opportunity for investors to make some money here.  There are almost 300 homes that are in the middle of the foreclosure process giving investors even better deals.  Many of these properties will end up on the auction block giving cash investors a huge benefit.  The average price of a foreclosure is 30% lower than the median price.

You can still find some amazing deals in some of Montgomery’s more popular neighborhoods.  If you look at the Edgewood neighborhood it is experiencing revitalization and the prices are on the rise.  While Edgewood isn’t the Garden District they have seen price increases of almost 20% so now is the time to buy.

For both the investor or the first time home owner there are some great deals to be found in Montgomery.  The economy is doing well and home prices remain affordable.  Find a great local realtor to work with and you could be getting the keys to your next property before you know it.

Things to do in Montgomery

If you are visiting Montgomery or you have just relocated here then welcome, Montgomery is a great place to visit.  While you are probably tempted to shout “Roll Tide Roll” there is far more to Montgomery than that.  This was the birthplace of the Civil Rights Movement and it has a rich history dating back to the Civil War.  Take some time to appreciate those warm summer nights and the southern hospitality, here are some things to do in Montgomery.

Civil Rights Memorial

The Civil Rights Movement is one of the most significant periods of time in American History and here is where Montgomery remembers those that gave their lives so things could change.  The memorial is a black granite table with water flowing out of the center and over the table.  It has the names of all that gave their lives engraved on the surface.  When you are here you are encouraged to touch the table and take a moment to respect those that lost their lives.  The table was designed by Maya Lin who also designed the Vietnam War Memorial in Washington.

The State Capital Building

If you love history then this is a place that you just have to see, the building first opened back in 1855 and for a short time it served as the Capitol of the Confederacy before it moved to Virginia.  A lot of history happened in this building and you should take the time to explore.  There is a beautiful staircase that will bring you to the second floor that offers the best view of the dome.

Montgomery Zoo and Mann Wildlife Learning Center

If you are looking for a great place to take the kids then head over to the zoo, with more than 40 acres of ground and 500 animals you can spend an entire day here.  You can wander around on your own or take guided tour to make sure you get to see the best exhibits.  There are staff there that will let you feed some of the animals and to touch some of them.  It’s a long day with lots of walking fortunately there is a café onsite so you can stop and get some nibbles.

Montgomery Museum of Fine Arts

If you want to see some fantastic art anywhere in the south then the Museum of Fine Arts is a must see.  You can take tour or grab a book that will outline the exhibits.  There is a gift shop in the museum so you can pick up a trinket or two and a café where you can sit and sip a coffee and take in the ambiance.