Is Wetumpka, 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, Wetumpka has remained a Seller's Market.
Key Takeaway
Wetumpka is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wetumpka, AL
How much do homes in Wetumpka, AL cost?
Median Sold Price
$275,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wetumpka have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Wetumpka was $275,000 in May 2024, up 3.8% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $157.9K | $161K | +1.9% |
| 3 Bedrooms | $220.5K | $235K | +6.6% |
| 4 Bedrooms | $325K | $350K | +7.7% |
| 5+ Bedrooms | $432K | $439K | +1.6% |
Summary: Wetumpka 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 1.9%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 1.6%.
Housing Supply in Wetumpka, AL
How many homes are available in Wetumpka, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 146 | 157 | +7.5% |
Summary: The Wetumpka real estate market had 157 homes for sale in May 2024, a 7.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 69 | 73 | +5.8% |
| 4 Bedrooms | 56 | 57 | +1.8% |
| 5+ Bedrooms | 14 | 19 | +35.7% |
Summary: The Wetumpka housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 35.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 42 | +35.5% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wetumpka, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Wetumpka in May 2024, up by 35.5% month-over-month. Of the 42 sold homes, 48% were sold under asking, 29% were sold at asking, and 24% were sold over asking.
Days on Market for Wetumpka, AL
How long does it take to sell a home in Wetumpka, AL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 60 Days | +19.7% |
Summary: Homes in Wetumpka had an average of 60 days on market in May 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wetumpka are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 42 homes were sold in Wetumpka; 45% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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