$7,659 Closing Credit*
$645,000
2,359 SqFt
3 Beds
•2 Full Baths
Leigh Ann Pennington, Listing Office: Real Broker, LLC
Is Fairhope, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Fairhope was a Seller's Market.
Key Takeaway
Fairhope is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fairhope, AL
How much do homes in Fairhope, AL cost?
Median Sold Price
$496,276
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$41,928(+9.2%)
Key Takeaway
Homes in Fairhope have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Fairhope was $496,276 in November 2024, up 9.2% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $355.7K | $369.2K | +3.8% |
| 2 Bedrooms | $320K | $367.9K | +15.0% |
| 3 Bedrooms | $400.1K | $431.5K | +7.8% |
| 4 Bedrooms | $505.4K | $533.7K | +5.6% |
| 5+ Bedrooms | $802.5K | $679.9K | -15.3% |
Summary: Fairhope housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 15.3%.
Median Sold Price Compared To Nearby Cities
| Fairhope | $454.3K | $496.2K | +9.2% |
| Daphne | $338.3K | $342.4K | +1.2% |
Housing Supply in Fairhope, AL
How many homes are available in Fairhope, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 452 | 431 | -4.6% |
Summary: The Fairhope real estate market had 431 homes for sale in November 2024, a 4.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 4 | +100.0% |
| 2 Bedrooms | 46 | 34 | -26.1% |
| 3 Bedrooms | 184 | 176 | -4.3% |
| 4 Bedrooms | 168 | 167 | -0.6% |
| 5+ Bedrooms | 54 | 50 | -7.4% |
Summary: The Fairhope housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 26.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 7.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 89 | 49 | -44.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairhope, you may be able to get a good deal. 57.8% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in Fairhope in November 2024, down by 44.9% month-over-month. Of the 45 sold homes, 58% were sold under asking, 38% were sold at asking, and 4% were sold over asking.
Days on Market for Fairhope, AL
We’re sorry, we don't have information for this market at the moment
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