$5,759 Closing Credit*
$485,000
1,207 SqFt
3 Beds
•1 Full Bath
Jessica Gilmore, Listing Office: ERA King - Birmingham
Is Homewood, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Homewood has remained a Seller's Market.
Key Takeaway
Homewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homewood, AL
How much do homes in Homewood, AL cost?
Median Sold Price
$480,000
$293/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$35,000(-6.8%)
Key Takeaway
Homes in Homewood have sold for 6.8% less than they did a month ago.
Summary: The median home sold price in Homewood was $480,000 in November 2024, down 6.8% from last month, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $360.1K | $220K | -38.9% |
| 3 Bedrooms | $490K | $464.5K | -5.2% |
| 4 Bedrooms | $527.5K | $647K | +22.7% |
| 5+ Bedrooms | $700.5K | $1.1M | +68.1% |
Summary: Homewood housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.9%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 68.1%.
Median Sold Price Compared To Nearby Cities
| Hoover | $419.5K | $485.5K | +15.7% |
| Vestavia Hills | $441.7K | $500K | +13.2% |
| Mountain Brook | $827.5K | $870K | +5.1% |
| Birmingham | $274K | $263.6K | -3.8% |
| Homewood | $515K | $480K | -6.8% |
Housing Supply in Homewood, AL
How many homes are available in Homewood, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 72 | 74 | +2.8% |
Summary: The Homewood real estate market had 74 homes for sale in November 2024, a 2.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 29 | 34 | +17.2% |
| 4 Bedrooms | 20 | 16 | -20.0% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Homewood 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 remained the same, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Homewood, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Homewood in November 2024, the same as the previous month. Of the 19 sold homes, 58% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for Homewood, AL
How long does it take to sell a home in Homewood, AL?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 59 Days | +247.7% |
Summary: Homes in Homewood had an average of 59 days on market in Nov 2024, up by 247.7% compared to last month.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Homewood are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in Homewood; 58% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
