Is Elberta, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Elberta was a Neutral Market.
Key Takeaway
Elberta is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elberta, AL
How much do homes in Elberta, AL cost?
Median Sold Price
$326,149
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elberta have sold for 33.4% less than they did a year ago.
Summary: The median home sold price in Elberta was $326,149 in May 2024, down 33.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $385K | $360K | -6.5% |
| 2 Bedrooms | $227.5K | $312K | +37.1% |
| 3 Bedrooms | $380K | $321.5K | -15.4% |
| 4 Bedrooms | $600K | $323K | -46.2% |
| 5+ Bedrooms | $965K | $811.8K | -15.9% |
Summary: Elberta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 37.1%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 46.2%, and 5+ bedroom homes decreased by 15.9%.
Housing Supply in Elberta, AL
How many homes are available in Elberta, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 82 | +12.3% |
Summary: The Elberta real estate market had 82 homes for sale in May 2024, a 12.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 29 | 31 | +6.9% |
| 4 Bedrooms | 30 | 34 | +13.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Elberta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elberta, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Elberta in May 2024, up by 50.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Elberta, AL
We’re sorry, we don't have information for this market at the moment
Listing information Copyright © 2024 Baldwin County Association of REALTORS®, Inc. All rights reserved. MLS IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.