Tornado’s Impact on Tuscaloosa Real Estate Described in UA Study

September 19th, 2011 - Filed under: News

A comprehensive real estate report on the short-term impact and an analysis of the April 27 tornado that ravaged the Tuscaloosa area is now available from the Alabama Center for Real Estate at the Culverhouse College of Commerce.

The report includes an assessment of the residential market following the storm and an analysis of the impact on the residential housing supply. For example, the report indicates 5,144 total housing units, or 12.6 percent of the city’s housing inventory, were impacted by the storm and 1,240 houses were destroyed, at an average replacement cost estimated at $76,444.

The report also provides a detailed examination of residential market conditions in the Tuscaloosa housing  market that includes sales, average and median sales prices, days on market, total units for sale, building permits and foreclosure rates.

The report is available at acre.cba.ua.edu/store/store_files/Tusc_RE_Disaster_Report_Aug2011.pdf.

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