Green hillsides, tree-covered mountains, sprawling valleys and shimmering streams -- that is the backdrop for one of Alabama's most peaceful towns: Hoover. Named for William Hoover, who owned acres of undeveloped land south of the Vestavia Hills in the late 1950s, Hoover came into existence when plans to widen Highway 31 were carried out and development of the area ensued.(more)
When Hoover became an official city in 1967, it was only four blocks in size and had only 410 citizens. By 1973, the population had grown to 3,500. Now, Hoover has more than 81,000 people who enjoy living in this scenic community in the north central area of Alabama. Two major interstates run through Hoover and allow quick travel to local state parks, national forests and big cities. There is much to see and do just outside of Hoover, from seeing the Appalachian Mountains to playing golf on one of Alabama's many premier golf courses.
Real Estate Price Range of Hoover Homes and Residential Property
The Hoover real estate market is diverse and offers a wide variety of property types. Hoover's condominiums and townhouses can be found priced anywhere between $85,000 and $280,000. Prices for single-family homes in Hoover start from $100,000. Large brick estates, countryside cottages, and custom built homes on wooded lots usually run in the higher end of the pricing spectrum.
Hoover Real Estate Stats and Trends for the week of April 5th, 2020: homes priced around $275,960 compared to $165,182 the previous week, showing a increase of more than +40%. For Sunday, April 5th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.