Save. Alabama's blue skies and plush greenery make a beautiful backdrop for your dream home. MyDreamLocale.com shows that Alabama real estate has an approximate average value of $110,630 and an average cost to build per square foot of $91.ave. Alabama's blue skies and plush greenery make a beautiful backdrop for your dream home. MyDreamLocale.com shows that Alabama real estate has an approximate average value of $110,630 and an average cost to build per square foot of $91.