Melissa Way / Summit Dr median real estate price is $272,818, which is more expensive than 96.1% of the neighborhoods in Alabama and 71.1% of the neighborhoods in the U.S.
The average rental price in Melissa Way / Summit Dr is currently $1,440, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.4% of the neighborhoods in Alabama.
Melissa Way / Summit Dr is a suburban neighborhood (based on population density) located in Vestavia Hills, Alabama.
Melissa Way / Summit Dr real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Melissa Way / Summit Dr neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Melissa Way / Summit Dr has a 12.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.