$2,363 Closing Credit*
$199,000
1,496 SqFt
3 Beds
•2 Full Baths
Cliff Glansen, Listing Office: FlatFee.com
Is Spring Lake, 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, Spring Lake was a Buyer's Market.
Key Takeaway
Spring Lake 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 Spring Lake, AL
How much do homes in Spring Lake, AL cost?
Median Sold Price
$172,450
$94/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$12,550(-6.8%)
Key Takeaway
Homes in Spring Lake have sold for 6.8% less than they did a month ago.
Summary: The median home sold price in Spring Lake was $172,450 in November 2024, down 6.8% from last month, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $185K | $112.9K | -38.9% |
| 4 Bedrooms | - | $224.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Spring 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 decreased by 38.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Huffman | $135K | $130.7K | -3.1% |
| Spring Lake | $185K | $172.4K | -6.8% |
| Killough Springs | $140K | $112.5K | -19.6% |
Housing Supply in Spring Lake, AL
How many homes are available in Spring Lake, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 26 | +13.0% |
Summary: The Spring Lake real estate market had 26 homes for sale in November 2024, a 13.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 18 | 20 | +11.1% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Spring 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 remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Lake, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Spring Lake in November 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Spring Lake, AL
How long does it take to sell a home in Spring Lake, AL?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 63 Days | 29 Days | -54.1% |
Summary: Homes in Spring Lake had an average of 29 days on market in Nov 2024, down by 54.1% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spring Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Spring Lake; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
