Tuscaloosa Luxury Condominiums Sales Go Through the Roof in 2020

One area immune from the impact of COVID-19 since the spring has been real estate. In Tuscaloosa, sales of luxury, single-family, condominiums (for this purpose, units with lists prices over $400,000) located within the downtown and University area (35401 zip code) have been through the roof.

In 2020, (36) properties in this range have sold for an average of $904,279 compared to only three in 2015 for an average of $476,667. This year has already outpaced the previous benchmark over the last 5 years which was 2017 when (25) units sold for an average of $817,988. An additional (13) sales are pending with an average price of $1,065,508.

Currently, (11) units have sold and (4) sales are pending with list prices over $1 million. These properties are located at Camellia Place, Champions Place, Park Place, and Westgate condominiums. Only one of these sales occurred prior to August.

It is amazing to look at these numbers in the context of COVID-19 and the havoc the pandemic has had on Tuscaloosa, the University of Alabama and the Crimson Tide’s football schedule. Fall weekends have featured fewer home games and reduced capacity at the stadium while campus and community life has faced measures to curtail large gatherings and events as well. It is a testament to the Tuscaloosa area that it provides a quality of life that can withstand these measures.

With (57) condominium units still active in this luxury range, in addition to numerous other downtown, residential and lake properties which would be perfect for corporate/donor entertainment, rental income, or just a second city retreat, this is a great time to look at this market in Tuscaloosa.

If you are interested in more local research on the Tuscaloosa real estate market – as a buyer or a seller – contact me. I can help you run the numbers, study comparable properties, and discuss the particulars of properties and market. 

Call me at 205-542-0301 or email me at [email protected]