Is Bessemer, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bessemer is a neutral's market

Buyer's
Market

Difference Since Last Month

Since last month, Bessemer has remained a Neutral Market.

Key Takeaway

Bessemer is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Bessemer, AL

How much do homes in Bessemer, AL cost?

Median Sold Price

$247,500

$141/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$2,500(-1.0%)

Key Takeaway

Homes in Bessemer have sold for 1% less than they did a month ago.

Summary: The median home sold price in Bessemer was $247,500 in September 2024, down 1% from last month, and the median price per square foot was $141.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 $126K$169.9K
+34.8%
3 $220K$250K
+13.6%
4 $284.6K$225K
-21.0%
5+ $265.9K$337.4K
+26.9%

Summary: Bessemer housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 34.8%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 21%, and 5+ bedroom homes increased by 26.9%.

Median Sold Price Compared To Nearby Cities

Lipscomb
+67.0%
Greenwood
+1.8%
Hueytown
+1.7%
Bessemer
-1.0%

Housing Supply in Bessemer, AL

How many homes are available in Bessemer, AL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
241280+16.2%

Summary: The Bessemer real estate market had 280 homes for sale in September 2024, a 16.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 01
+100.0%
2 3234
+6.3%
3 130164
+26.2%
4 6364
+1.6%
5+ 1617
+6.3%

Summary: The Bessemer housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 26.2%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 6.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
42420.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bessemer, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.

Summary: A total of 42 homes were sold or pending in Bessemer in September 2024, the same as the previous month. Of the 42 sold homes, 40% were sold under asking, 33% were sold at asking, and 26% were sold over asking.

Days on Market for Bessemer, AL

How long does it take to sell a home in Bessemer, AL?

Average Sale Time

Aug 2024Sep 2024CHANGE
37 Days50 Days+34.6%

Summary: Homes in Bessemer had an average of 50 days on market in Sep 2024, up by 34.6% compared to last month.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bessemer are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 42 homes were sold in Bessemer; 52% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in Bessemer, AL

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