$2,613 Closing Credit*
$220,000
2,076 SqFt
4 Beds
•2 Full Baths
Listing Office: Lands Of Cotton Real Estate
Is Florence, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Florence has remained a Seller's Market.
Key Takeaway
Florence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Florence, AL
How much do homes in Florence, AL cost?
Median Sold Price
$256,450
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,950(+5.8%)
Key Takeaway
Homes in Florence have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Florence was $256,450 in October 2024, up 5.8% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $72K | N/A |
| 2 Bedrooms | $116K | $149.9K | +29.3% |
| 3 Bedrooms | $242.5K | $268K | +10.5% |
| 4 Bedrooms | $294.9K | $420K | +42.4% |
| 5+ Bedrooms | $415K | $1.8M | +354.2% |
Summary: Florence housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.3%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 42.4%, and 5+ bedroom homes increased by 354.2%.
Housing Supply in Florence, AL
How many homes are available in Florence, AL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 55 | +22.2% |
Summary: The Florence real estate market had 55 homes for sale in October 2024, a 22.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 31 | 39 | +25.8% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Florence housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 25.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 11 | +175.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Florence, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Florence in October 2024, up by 175.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Florence, AL
How long does it take to sell a home in Florence, AL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 1 Day | 28 Days | +2766.7% |
Summary: Homes in Florence had an average of 28 days on market in Oct 2024, up by 2766.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Florence are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Florence; 18% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.