35216
Birmingham, Alabama

The 35216 market shows signs of deceleration with a median sale price of $356,000, down 0.7% year-over-year, marking a shift from the appreciation cycles typical of the past few years. Homes are moving at a moderate pace, averaging 62 days on market, while only 16% of properties sell above asking price. This low premium rate indicates subdued buyer competition and reduced urgency compared to tighter market periods. The price decline, though modest, represents a tangible correction in this Birmingham submarket.

These conditions favor patient buyers with financing secured who can negotiate without facing multiple offer scenarios. The 16% above-list figure suggests most sellers are accepting at or below asking, creating room for price discovery and inspection-based concessions. Cash investors seeking rental inventory may find opportunities here, though the 62-day absorption rate requires holding costs to be factored into underwriting. Sellers with equity and flexible timelines can still transact, but those expecting 2021-2022 appreciation rates will need to adjust expectations.

The PropIQ score of 60 signals caution, suggesting limited near-term price momentum and potential for further softening if inventory increases or interest rates remain elevated. The negative year-over-year trend combined with moderate days-on-market indicates equilibrium hasn't fully established. Monitoring monthly inventory levels and the percentage of homes selling above list will indicate whether this stabilization continues or accelerates into a buyer-advantaged correction. Price discovery remains ongoing in this ZIP code.