$44,700
7.00 Acres
Land
Ralph Harvey, Listing Office: List With Freedom, Inc.
Is Selma, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Selma has remained a Buyer's Market.
Key Takeaway
Selma is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Selma, AL
How much do homes in Selma, AL cost?
Median Sold Price
$110,000
$64/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,550(+11.7%)
Key Takeaway
Homes in Selma have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Selma was $110,000 in October 2024, up 11.7% from last year, and the median price per square foot was $64.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $40K | $30K | -25.0% |
| 3 Bedrooms | $105K | $114.5K | +9.0% |
| 4 Bedrooms | $107.2K | $172.4K | +60.8% |
| 5+ Bedrooms | $250K | $136.7K | -45.3% |
Summary: Selma 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 decreased by 25%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 60.8%, and 5+ bedroom homes decreased by 45.3%.
Housing Supply in Selma, AL
How many homes are available in Selma, AL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 102 | 106 | +3.9% |
Summary: The Selma real estate market had 106 homes for sale in October 2024, a 3.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 13 | -23.5% |
| 3 Bedrooms | 60 | 66 | +10.0% |
| 4 Bedrooms | 18 | 20 | +11.1% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Selma 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 23.5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Asking Price vs. Sold Price
8 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 Selma, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Selma in October 2024, down by 25.0% month-over-month. Of the 9 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.
Days on Market for Selma, AL
How long does it take to sell a home in Selma, AL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 99 Days | +431.0% |
Summary: Homes in Selma had an average of 99 days on market in Oct 2024, up by 431% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Selma are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 9 homes were sold in Selma; 11% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
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