$2,849 Closing Credit*
$239,900
1,843 SqFt
4 Beds
•2 Full Baths
Listing Office: Copperleaf Properties LLC
Is Rainbow City, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Rainbow City was a Buyer's Market.
Key Takeaway
Rainbow City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Rainbow City, AL
How much do homes in Rainbow City, AL cost?
Median Sold Price
$248,500
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,250(+4.7%)
Key Takeaway
Homes in Rainbow City have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Rainbow City was $248,500 in November 2024, up 4.7% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $225.7K | $209K | -7.4% |
| 3 Bedrooms | $213.4K | $235K | +10.1% |
| 4 Bedrooms | $278.5K | $310K | +11.3% |
| 5+ Bedrooms | $362.5K | $273.5K | -24.6% |
Summary: Rainbow City 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 decreased by 7.4%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 24.6%.
Median Sold Price Compared To Nearby Cities
| Rainbow City | $237.2K | $248.5K | +4.7% |
| Gadsden | $191.7K | $194.8K | +1.6% |
Housing Supply in Rainbow City, AL
How many homes are available in Rainbow City, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 34 | -17.1% |
Summary: The Rainbow City real estate market had 34 homes for sale in November 2024, a 17.1% decrease 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 | 2 | 0.0% |
| 3 Bedrooms | 22 | 16 | -27.3% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Rainbow City 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 remained the same, 3 bedroom homes decreased by 27.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 5 | -64.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rainbow City, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Rainbow City in November 2024, down by 64.3% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Rainbow City, AL
We’re sorry, we don't have information for this market at the moment
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