$2,078 Closing Credit*
$175,000
1,404 SqFt
4 Beds
•1 Full Bath
Sandra C. Turner, Listing Office: Turner & Associates Realty,Inc
Is Lanett, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Lanett was a Neutral Market.
Key Takeaway
Lanett is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lanett, AL
How much do homes in Lanett, AL cost?
Median Sold Price
$120,000
$95/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$3,000(-2.4%)
Key Takeaway
Homes in Lanett have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Lanett was $120,000 in October 2024, down 2.4% from last year, and the median price per square foot was $95.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $27K | - | N/A |
| 2 Bedrooms | $42.7K | $89.6K | +109.6% |
| 3 Bedrooms | $133K | $125K | -6.0% |
| 4 Bedrooms | $202.5K | $248K | +22.5% |
| 5+ Bedrooms | $369.9K | - | N/A |
Summary: Lanett 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 109.6%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Valley | $153.2K | $180.9K | +18.0% |
| West Point | $194K | $226K | +16.5% |
| West Point | $198.9K | $226K | +13.6% |
| Lanett | $123K | $120K | -2.4% |
Housing Supply in Lanett, AL
How many homes are available in Lanett, AL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Lanett real estate market had 13 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lanett 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 decreased by 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lanett, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Lanett in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 341 Days | +759.7% |
Summary: Homes in Lanett had an average of 341 days on market in Oct 2024, up by 759.7% compared to last year.
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
Key Takeaway
Most homes in Lanett are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 1 homes were sold in Lanett; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
