Sales Data for the Previous 6 MonthsNew Home SalesNovember 2023Sales: 150 (MoM: -3%, YoY: +5%)Median Sales Price: $325,000 (MoM: +1%, YoY: +8%)Average Square Footage: 2100 sq ft (MoM: +2%, YoY: +6%)Inventory: 180 (MoM: +5%, YoY: +12%)December 2023Sales: 160 (MoM: +7%, YoY: +6%)Median Sales Price: $330,000 (MoM: +1.5%, YoY: +7%)Average Square Footage: 2120 sq ft (MoM: +1%, YoY: +7%)Inventory: 185 (MoM: +2.7%, YoY: +10%)January 2024Sales: 140 (MoM: -12.5%, YoY: +3%)Median Sales Price: $335,000 (MoM: +1.5%, YoY: +9%)Average Square Footage: 2130 sq ft (MoM: +0.5%, YoY: +5%)Inventory: 190 (MoM: +2.7%, YoY: +8%)February 2024Sales: 170 (MoM: +21.4%, YoY: +10%)Median Sales Price: $340,000 (MoM: +1.5%, YoY: +10%)Average Square Footage: 2150 sq ft (MoM: +0.9%, YoY: +6%)Inventory: 195 (MoM: +2.6%, YoY: +7%)March 2024Sales: 180 (MoM: +5.9%, YoY: +15%)Median Sales Price: $345,000 (MoM: +1.5%, YoY: +12%)Average Square Footage: 2160 sq ft (MoM: +0.5%, YoY: +5%)Inventory: 200 (MoM: +2.5%, YoY: +6%)April 2024Sales: 190 (MoM: +5.6%, YoY: +18%)Median Sales Price: $350,000 (MoM: +1.5%, YoY: +12.5%)Average Square Footage: 2180 sq ft (MoM: +0.9%, YoY: +6.5%)Inventory: 210 (MoM: +5%, YoY: +8%)Existing Home SalesNovember 2023Sales: 400 (MoM: -2.4%, YoY: +3%)Median Sales Price: $275,000 (MoM: +0.8%, YoY: +5%)Average Square Footage: 1850 sq ft (MoM: +0.5%, YoY: +4%)Inventory: 450 (MoM: +4%, YoY: +9%)December 2023Sales: 420 (MoM: +5%, YoY: +4%)Median Sales Price: $280,000 (MoM: +1.8%, YoY: +6%)Average Square Footage: 1860 sq ft (MoM: +0.5%, YoY: +4.5%)Inventory: 460 (MoM: +2.2%, YoY: +8%)January 2024Sales: 380 (MoM: -9.5%, YoY: +2%)Median Sales Price: $285,000 (MoM: +1.8%, YoY: +7%)Average Square Footage: 1870 sq ft (MoM: +0.5%, YoY: +4%)Inventory: 470 (MoM: +2.2%, YoY: +7%)February 2024Sales: 450 (MoM: +18.4%, YoY: +9%)Median Sales Price: $290,000 (MoM: +1.8%, YoY: +8%)Average Square Footage: 1880 sq ft (MoM: +0.5%, YoY: +5%)Inventory: 480 (MoM: +2.1%, YoY: +6%)March 2024Sales: 470 (MoM: +4.4%, YoY: +12%)Median Sales Price: $295,000 (MoM: +1.7%, YoY: +9%)Average Square Footage: 1890 sq ft (MoM: +0.5%, YoY: +4%)Inventory: 490 (MoM: +2%, YoY: +5%)April 2024Sales: 500 (MoM: +6.4%, YoY: +15%)Median Sales Price: $300,000 (MoM: +1.7%, YoY: +10%)Average Square Footage: 1900 sq ft (MoM: +0.5%, YoY: +5%)Inventory: 500 (MoM: +2%, YoY: +6%)TownhomesNovember 2023Sales: 45 (MoM: -4%, YoY: +6%)Median Sales Price: $210,000 (MoM: +0.5%, YoY: +5.5%)Average Square Footage: 1,450 sq ft (MoM: +1%, YoY: +3%)Inventory: 60 (MoM: +3%, YoY: +10%)December 2023Sales: 50 (MoM: +11%, YoY: +7%)Median Sales Price: $215,000 (MoM: +2.4%, YoY: +6.5%)Average Square Footage: 1,460 sq ft (MoM: +0.7%, YoY: +3.5%)Inventory: 65 (MoM: +8.3%, YoY: +12%)January 2024Sales: 40 (MoM: -20%, YoY: +4%)Median Sales Price: $220,000 (MoM: +2.3%, YoY: +7%)Average Square Footage: 1,470 sq ft (MoM: +0.7%, YoY: +4%)Inventory: 70 (MoM: +7.7%, YoY: +10%)February 2024Sales: 55 (MoM: +37.5%, YoY: +9%)Median Sales Price: $225,000 (MoM: +2.3%, YoY: +8%)Average Square Footage: 1,480 sq ft (MoM: +0.7%, YoY: +4.5%)Inventory: 75 (MoM: +7.1%, YoY: +11%)March 2024Sales: 60 (MoM: +9.1%, YoY: +12%)Median Sales Price: $230,000 (MoM: +2.2%, YoY: +9%)Average Square Footage: 1,490 sq ft (MoM: +0.7%, YoY: +5%)Inventory: 80 (MoM: +6.7%, YoY: +12%)April 2024Sales: 65 (MoM: +8.3%, YoY: +15%)Median Sales Price: $235,000 (MoM: +2.2%, YoY: +10%)Average Square Footage: 1,500 sq ft (MoM: +0.7%, YoY: +5.5%)Inventory: 85 (MoM: +6.3%, YoY: +12.5%)CondosNovember 2023Sales: 30 (MoM: -6.3%, YoY: +4%)Median Sales Price: $175,000 (MoM: +0.5%, YoY: +4.5%)Average Square Footage: 1,200 sq ft (MoM: +1%, YoY: +2.5%)Inventory: 45 (MoM: +4.7%, YoY: +8%)December 2023Sales: 32 (MoM: +6.7%, YoY: +5%)Median Sales Price: $180,000 (MoM: +2.9%, YoY: +5.5%)Average Square Footage: 1,210 sq ft (MoM: +0.8%, YoY: +3%)Inventory: 48 (MoM: +6.7%, YoY: +9%)January 2024Sales: 28 (MoM: -12.5%, YoY: +3%)Median Sales Price: $185,000 (MoM: +2.8%, YoY: +6%)Average Square Footage: 1,220 sq ft (MoM: +0.8%, YoY: +3.5%)Inventory: 50 (MoM: +4.2%, YoY: +8%)February 2024Sales: 35 (MoM: +25%, YoY: +8%)Median Sales Price: $190,000 (MoM: +2.7%, YoY: +7%)Average Square Footage: 1,230 sq ft (MoM: +0.8%, YoY: +4%)Inventory: 53 (MoM: +6%, YoY: +9%)March 2024Sales: 38 (MoM: +8.6%, YoY: +10%)Median Sales Price: $195,000 (MoM: +2.6%, YoY: +8%)Average Square Footage: 1,240 sq ft (MoM: +0.8%, YoY: +4.5%)Inventory: 56 (MoM: +5.7%, YoY: +10%)April 2024Sales: 40 (MoM: +5.3%, YoY: +12%)Median Sales Price: $200,000 (MoM: +2.6%, YoY: +9%)Average Square Footage: 1,250 sq ft (MoM: +0.8%, YoY: +5%)Inventory: 60 (MoM: +7.1%, YoY: +12%)Property Type and Purchase Type SegregationSingle-Family Residences (SFR)April 2024Cash Purchase: 70 sales (35% of total SFR sales) Median Sales Price: $305,000 Average Square Footage: 1950 sq ftFinanced Purchase: 130 sales (65% of total SFR sales) Median Sales Price: $295,000 Average Square Footage: 1920 sq ftTownhomesApril 2024Cash Purchase: 20 sales (40% of total Townhome sales) Median Sales Price: $220,000 Average Square Footage: 1450 sq ftFinanced Purchase: 30 sales (60% of total Townhome sales) Median Sales Price: $210,000 Average Square Footage: 1430 sq ftCondosApril 2024Cash Purchase: 15 sales (50% of total Condo sales) Median Sales Price: $180,000 Average Square Footage: 1200 sq ftFinanced Purchase: 15 sales (50% of total Condo sales) Median Sales Price: $175,000 Average Square Footage: 1180 sq ftRental Data for the Previous 6 MonthsSingle-Family HomesDecember 20232-bedroom: $1,100 (MoM: +2%, YoY: +5%)3-bedroom: $1,350 (MoM: +1%, YoY: +4%)4-bedroom: $1,600 (MoM: +2.5%, YoY: +3.8%)January 20242-bedroom: $1,125 (MoM: +2.3%, YoY: +5.5%)3-bedroom: $1,360 (MoM: +0.7%, YoY: +4.2%)4-bedroom: $1,620 (MoM: +1.25%, YoY: +4%)February 20242-bedroom: $1,130 (MoM: +0.4%, YoY: +5.2%)3-bedroom: $1,370 (MoM: +0.7%, YoY: +4.1%)4-bedroom: $1,640 (MoM: +1.2%, YoY: +3.9%)March 20242-bedroom: $1,135 (MoM: +0.4%, YoY: +5.1%)3-bedroom: $1,380 (MoM: +0.7%, YoY: +4.0%)4-bedroom: $1,650 (MoM: +0.6%, YoY: +3.8%)April 20242-bedroom: $1,140 (MoM: +0.4%, YoY: +4.8%)3-bedroom: $1,390 (MoM: +0.7%, YoY: +3.9%)4-bedroom: $1,660 (MoM: +0.6%, YoY: +3.7%)May 20242-bedroom: $1,145 (MoM: +0.4%, YoY: +4.6%)3-bedroom: $1,400 (MoM: +0.7%, YoY: +3.8%)4-bedroom: $1,670 (MoM: +0.6%, YoY: +3.6%)ApartmentsDecember 20232-bedroom: $1,000 (MoM: +1.5%, YoY: +4%)3-bedroom: $1,250 (MoM: +1%, YoY: +3.5%)4-bedroom: $1,450 (MoM: +2%, YoY: +3.8%)January 20242-bedroom: $1,020 (MoM: +2%, YoY: +4.2%)3-bedroom: $1,260 (MoM: +0.8%, YoY: +3.6%)4-bedroom: $1,460 (MoM: +0.7%, YoY: +3.9%)February 20242-bedroom: $1,025 (MoM: +0.5%, YoY: +4.1%)3-bedroom: $1,265 (MoM: +0.4%, YoY: +3.5%)4-bedroom: $1,470 (MoM: +0.7%, YoY: +3.8%)March 20242-bedroom: $1,030 (MoM: +0.5%, YoY: +4.0%)3-bedroom: $1,270 (MoM: +0.4%, YoY: +3.4%)4-bedroom: $1,480 (MoM: +0.7%, YoY: +3.7%)April 20242-bedroom: $1,035 (MoM: +0.5%, YoY: +3.8%)3-bedroom: $1,275 (MoM: +0.4%, YoY: +3.3%)4-bedroom: $1,490 (MoM: +0.7%, YoY: +3.6%)May 20242-bedroom: $1,040 (MoM: +0.5%, YoY: +3.6%)3-bedroom: $1,280 (MoM: +0.4%, YoY: +3.2%)4-bedroom: $1,500 (MoM: +0.7%, YoY: +3.5%)Birmingham, AL Real Estate Market Forecast (June 2024 - November 2024)Market OverviewThe Birmingham real estate market is expected to remain robust, driven by rising property prices, competitive market conditions, and strong demand.

The market is maturing, becoming more robust and less volatile.

I am not a structural engineer.

I think if we know what you want to achieve we can reverse engineer your ideal "path"@Justin Kane makes a really good point on the scalability of the larger MF game. 

Oh and I am an introverted, analytical, engineering guy so I can relate to your situation.So now that you hired an attorney - great.

I am currently a utility engineer making over 100k/ yr, should I consider pivoting into the developer or construction management space for experience?

@Jeff S.I live off rentals that I paid cash for, and I'm still buying more.Quit my job as an Electrical Engineer and I now make more money letting my money work for me.

And newer ones are made with Engineered Obsolescence.

I am an engineer with a full time job, but plan on continuing to purchase rent ready properties to slowly build wealth.

Think people involved in $10+mm deals, whether they be brokers, owner/operators, engineers, finance professionals, etc.And when I attend networking events around personal interests, they are more hobby or lifestyle-based.