Is New Market, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Market is a buyer's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

New Market is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in New Market, AL

How much do homes in New Market, AL cost?

Median Sold Price

$309,511

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$9,511(+3.2%)

Key Takeaway

Homes in New Market have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in New Market was $309,511 in September 2024, up 3.2% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$176K
N/A
2 $120K$165K
+37.5%
3 $274.8K$262.7K
-4.4%
4 $315.5K$340K
+7.8%
5+ $615K$418.1K
-32.0%

Summary: New Market housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.5%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 32%.

Median Sold Price Compared To Nearby Cities

Brownsboro
+3.8%
New Market
+3.2%
Hazel Green
+1.6%
Meridianville
-6.9%

Housing Supply in New Market, AL

How many homes are available in New Market, AL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
185201+8.6%

Summary: The New Market real estate market had 201 homes for sale in September 2024, a 8.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 12
+100.0%
2 22
0.0%
3 7484
+13.5%
4 8790
+3.4%
5+ 2123
+9.5%

Summary: The New Market housing inventory by bedroom type for September 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 13.5%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 9.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3025-16.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Market, you may be able to get a good deal. 36% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in New Market in September 2024, down by 16.7% month-over-month. Of the 25 sold homes, 36% were sold under asking, 36% were sold at asking, and 28% were sold over asking.

Days on Market for New Market, AL

We’re sorry, we don't have information for this market at the moment

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 New Market, AL

Nearby Markets to New Market, AL