$2,078 Closing Credit*
$175,000
1,334 SqFt
3 Beds
•2 Full Baths
Jeremy Galloway, Listing Office: eXp Realty, LLC Central
Is South East Lake, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, South East Lake has remained a Buyer's Market.
Key Takeaway
South East Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South East Lake, AL
How much do homes in South East Lake, AL cost?
Median Sold Price
$174,000
$100/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$59,000(+51.3%)
Key Takeaway
Homes in South East Lake have sold for 51.3% more than they did a month ago.
Summary: The median home sold price in South East Lake was $174,000 in November 2024, up 51.3% from last month, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $115K | $199.5K | +73.5% |
| 4 Bedrooms | $75K | $122K | +62.7% |
| 5+ Bedrooms | $248K | - | N/A |
Summary: South East Lake 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 did not change, 3 bedroom homes increased by 73.5%, 4 bedroom homes increased by 62.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Roebuck Springs | $114.1K | $227.9K | +99.7% |
| South East Lake | $115K | $174K | +51.3% |
Housing Supply in South East Lake, AL
How many homes are available in South East Lake, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 56 | +30.2% |
Summary: The South East Lake real estate market had 56 homes for sale in November 2024, a 30.2% 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 | 5 | 8 | +60.0% |
| 3 Bedrooms | 30 | 38 | +26.7% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The South East Lake 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 60%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South East Lake, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in South East Lake in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for South East Lake, AL
How long does it take to sell a home in South East Lake, AL?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 47 Days | +104.3% |
Summary: Homes in South East Lake had an average of 47 days on market in Nov 2024, up by 104.3% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South East Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in South East Lake; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
