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Graphic by Melanie Viering
Source: Greater Alabama MLS
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Graphic by Melanie Viering
Source: Greater Alabama MLS
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Graphic by Melanie Viering
Source: Greater Alabama MLS
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Graphic by Melanie Viering
Source: Greater Alabama MLS
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Graphic by Melanie Viering
Source: Greater Alabama MLS
Home sales in Mountain Brook climbed 10% in 2024, but that didn’t mean a strong year for everyone in the housing industry.
In fact, it was a difficult year for many as the inventory of homes for sale remained small, interest rates stayed high, lenders tightened credit requirements, and some real estate agents scrambled for customers.
Thirty-year fixed mortgage rates hovered between 6% and 7% for most of the year, and even though people kept predicting rates would drop below 6%, they bounced back above 7% toward the end of the year, according to Freddie Mac.
More than half of mortgage holders have interest rates below 4%, and more than 20% have rates below 3%, according to Realtor.com. That dynamic convinced many people to stay put and not sell their homes because a new mortgage would cause their monthly payments to rise significantly, said Guy Bradley, a Realtor with LAH who has been in the business for 20 years.
“It’s been tough for Realtors and lenders the past two to 2½ years,” Bradley said.
Jane Huston Crommelin, a Realtor with Ray & Poynor who is one of the top producers in Mountain Brook, said that while the high-end market and first-time homebuyer market have been selling, the middle market has been sluggish. A lot of people seem to think 6% interest rates are high, but historically they’re not, she said.
“If you wait to buy, you’re wasting money,” she said. “It’s only going to get more expensive.”
She encourages people to go ahead and buy and refinance later if rates drop significantly.
The number of homes sold in Mountain Brook climbed from 280 in 2023 to 307 in 2024, and only five of those were new homes in 2024, according to statistics from the Greater Alabama Multiple Listing Service.
So far, 2025 is off to a great start, Bradley said. He’s hoping people will come to terms with rates between 6% and 7% and decide to get back in the market, he said. If they’re waiting for rates to drop significantly more, they could be waiting a long time, he said.
All of Mountain Brook is a strong market, but Brookwood Forest has come on particularly strong in recent years, Bradley and Crommelin said. People who live there have the option to attend either Brookwood Forest Elementary or Mountain Brook Elementary, and the area is relatively flat with easy access to Publix and Whole Foods, Bradley said.
“It’s a really convenient place to live — nice, level lots,” Bradley said. “I think a lot of young families are doing it, and it’s catching on.”
Crestline is always a hot market, particularly because of its atmosphere, walkability and proximity to the villages, Crommelin said.
With inventory so low, prices in Mountain Brook have remained strong, with the average selling price exceeding $1 million for the third year in a row. The average price rose from $1,102,750 in 2023 to $1,160,170 in 2024. The average price is up more than $400,000 (54%) since 2019, MLS statistics show.
