$3,741 Closing Credit*
$315,000
2,856 SqFt
3 Beds
•2 Full Baths, 1 Partial
Kendall Butler, Listing Office: F.L.I. Properties
Is Lanett, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Lanett has remained a Seller's Market.
Key Takeaway
Lanett is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lanett, AL
How much do homes in Lanett, AL cost?
Median Sold Price
$150,950
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$43,450(+40.4%)
Key Takeaway
Homes in Lanett have sold for 40.4% more than they did a year ago.
Summary: The median home sold price in Lanett was $150,950 in November 2024, up 40.4% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $27K | - | N/A |
| 2 Bedrooms | $37.5K | $99.9K | +166.4% |
| 3 Bedrooms | $105K | $152.8K | +45.6% |
| 4 Bedrooms | $226.2K | $165K | -27.1% |
| 5+ Bedrooms | $369.9K | - | N/A |
Summary: Lanett housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 166.4%, 3 bedroom homes increased by 45.6%, 4 bedroom homes decreased by 27.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lanett | $107.5K | $150.9K | +40.4% |
| West Point | $198.9K | $239.5K | +20.4% |
| West Point | $202.4K | $239.5K | +18.3% |
| Valley | $153.2K | $174.9K | +14.1% |
Housing Supply in Lanett, AL
How many homes are available in Lanett, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Lanett real estate market had 14 homes for sale in November 2024, a 7.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lanett housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lanett, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Lanett in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Lanett, AL
How long does it take to sell a home in Lanett, AL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 68 Days | +54.4% |
Summary: Homes in Lanett had an average of 68 days on market in Nov 2024, up by 54.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lanett are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Lanett; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
