The cheapest house in the city is on a steep rise.
Buyers have been asking, “Which house in Tuscaloosa is the most expensive?”
Trenton’s new median price of $737,000 is a slight increase of 0.7% over last year, according to data compiled by real estate agent Sherry R. Roederer.
Reederer said her average price has jumped to $760,000 since she opened her first Tuscala home in 2011.
That is an average of $1,250 per square foot.
Reedser said it’s possible that more of the city’s housing stock is underutilized.
But it’s also possible that prices are too high.
“There’s always a price discrepancy when it comes to homes in a particular market, and we’ve definitely seen that over the last couple years,” Reederer explained.
Trent is experiencing a housing shortage, with about 9,000 homes for sale, according the city of Tuscaliacounty’s website.
The median price for homes is $750,000, and a typical home sells for $1.75 million, according data compiled last year by Real Capital Analytics.
Redser said the real estate market in Trent has been hot lately.
It’s the hottest real estate markets in the U.S. in 2016, according real estate website Zillow.
The average price in Tocumwalton jumped by 8% from 2016 to 2017, according Zillotex.
The metro area has the highest rate of home sales in the country.
Roses are in bloom in Trent.
The city has experienced a population boom, with the metro area now boasting more than 17 million residents.
But the city doesn’t have to wait long to see what the realtor says is the best home in town.
Roerer is the owner of The Rosederer Estate Brut, which offers a wide variety of affordable homes, including two-bedroom and two-bathrooms, in a diverse swath of neighborhoods.
She said she has sold two properties in the last two years.
Roeser said she expects the city will see more of an increase in home sales.
The state is on pace to see more new homes in the first quarter of 2019, and that’s when the city should see the biggest spike in home prices, Roeser predicted.
Romeo Martinez, a real estate broker with REI, said Trent has become a popular real estate destination, particularly in the past year.
“I think this is a great time for homeowners, who want to live closer to their jobs and the people who want them to live close to their kids,” Martinez said.
“They want a home that’s right for them, but that they don’t have their own kids to worry about.”
Real estate agents and experts are predicting more house sales, and more new housing construction, in the coming months.
“I don’t know if it’s just the housing crisis, but the housing market is very, very hot right now,” Roesers real estate partner said.