$2,755 Closing Credit*
$232,000
1,648 SqFt
3 Beds
•2 Full Baths, 1 Partial
Ann Lloyd, Listing Office: NextHome Heritage
Is Pelham, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Pelham was a Buyer's Market.
Key Takeaway
Pelham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pelham, AL
How much do homes in Pelham, AL cost?
Median Sold Price
$294,950
$162/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$16,877(-5.4%)
Key Takeaway
Homes in Pelham have sold for 5.4% less than they did a month ago.
Summary: The median home sold price in Pelham was $294,950 in November 2024, down 5.4% from last month, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $330.6K | $195K | -41.0% |
| 3 Bedrooms | $275.5K | $279.9K | +1.6% |
| 4 Bedrooms | $424.4K | $398.4K | -6.1% |
| 5+ Bedrooms | - | $543K | N/A |
Summary: Pelham 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 41%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Indian Springs Village | $450K | $760K | +68.9% |
| Hoover | $419.5K | $485.5K | +15.7% |
| Alabaster-Helena | $344.9K | $349K | +1.2% |
| Alabaster | $320.5K | $305K | -4.8% |
| Pelham | $311.8K | $294.9K | -5.4% |
Housing Supply in Pelham, AL
How many homes are available in Pelham, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 118 | 149 | +26.3% |
Summary: The Pelham real estate market had 149 homes for sale in November 2024, a 26.3% 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 | 15 | 18 | +20.0% |
| 3 Bedrooms | 36 | 43 | +19.4% |
| 4 Bedrooms | 56 | 70 | +25.0% |
| 5+ Bedrooms | 11 | 18 | +63.6% |
Summary: The Pelham 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 20%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 63.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 28 | +133.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pelham, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Pelham in November 2024, up by 133.3% month-over-month. Of the 28 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.
Days on Market for Pelham, AL
How long does it take to sell a home in Pelham, AL?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 80 Days | +205.4% |
Summary: Homes in Pelham had an average of 80 days on market in Nov 2024, up by 205.4% compared to last month.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pelham are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 28 homes were sold in Pelham; 43% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
