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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fairhope is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Fairhope was a Seller's Market.

Key Takeaway

Fairhope 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 Fairhope, AL

How much do homes in Fairhope, AL cost?

Median Sold Price

$490,932

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$37,589(+8.3%)

Key Takeaway

Homes in Fairhope have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Fairhope was $490,932 in September 2024, up 8.3% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $332.8K$369.2K
+10.9%
2 $300K$355K
+18.3%
3 $413.3K$420K
+1.6%
4 $497K$532.5K
+7.1%
5+ $726.2K$674.9K
-7.1%

Summary: Fairhope housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 7.1%.

Median Sold Price Compared To Nearby Cities

Fairhope
+8.3%
Daphne
-0.6%

Housing Supply in Fairhope, AL

How many homes are available in Fairhope, AL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
473498+5.3%

Summary: The Fairhope real estate market had 498 homes for sale in September 2024, a 5.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 4849
+2.1%
3 178180
+1.1%
4 196208
+6.1%
5+ 5161
+19.6%

Summary: The Fairhope housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 19.6%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
6572+10.8%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fairhope, you may be able to get a good deal. 68.7% of homes here sold below asking price last month.

Summary: A total of 72 homes were sold or pending in Fairhope in September 2024, up by 10.8% month-over-month. Of the 67 sold homes, 69% were sold under asking, 22% were sold at asking, and 9% were sold over asking.

Days on Market for Fairhope, AL

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

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Fairhope are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During September 2024, 72 homes were sold in Fairhope; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 1% 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 Fairhope, AL

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