Is Prattville, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Prattville has remained a Seller's Market.
Key Takeaway
Prattville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prattville, AL
How much do homes in Prattville, AL cost?
Median Sold Price
$262,501
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Prattville have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Prattville was $262,501 in May 2024, up 2.9% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $127.5K | $170K | +33.3% |
| 3 Bedrooms | $202K | $225K | +11.4% |
| 4 Bedrooms | $320K | $337K | +5.3% |
| 5+ Bedrooms | $485K | $473.4K | -2.4% |
Summary: Prattville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Millbrook | $222.2K | $236.1K | +6.3% |
| Prattville | $255K | $262.5K | +2.9% |
Housing Supply in Prattville, AL
How many homes are available in Prattville, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 209 | 224 | +7.2% |
Summary: The Prattville real estate market had 224 homes for sale in May 2024, a 7.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 62 | 67 | +8.1% |
| 4 Bedrooms | 112 | 121 | +8.0% |
| 5+ Bedrooms | 31 | 31 | 0.0% |
Summary: The Prattville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 62 | +34.8% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prattville, expect to pay close to the asking price. 41.9% of homes here sold near the asking price last month.
Summary: A total of 62 homes were sold or pending in Prattville in May 2024, up by 34.8% month-over-month. Of the 62 sold homes, 35% were sold under asking, 42% were sold at asking, and 23% were sold over asking.
Days on Market for Prattville, AL
How long does it take to sell a home in Prattville, AL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 47 Days | -11.8% |
Summary: Homes in Prattville had an average of 47 days on market in May 2024, down by 11.8% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Prattville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 62 homes were sold in Prattville; 44% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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