$6,531 Closing Credit*
$550,000
2,319 SqFt
4 Beds
•3 Full Baths
Mercy Sardinas, Listing Office: Myland Realty Inc
Is Alabama, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Alabama was a Seller's Market.
Key Takeaway
Alabama is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Alabama, FL
How much do homes in Alabama, FL cost?
Median Sold Price
$330,115
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,815(+11.0%)
Key Takeaway
Homes in Alabama have sold for 11% more than they did a year ago.
Summary: The median home sold price in Alabama was $330,115 in October 2024, up 11% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $145K | +20.8% |
| 2 Bedrooms | $191K | $190K | -0.5% |
| 3 Bedrooms | $324.9K | $330K | +1.5% |
| 4 Bedrooms | $390K | $363.7K | -6.7% |
| 5+ Bedrooms | $387.5K | $525K | +35.5% |
Summary: Alabama housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.8%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 35.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Alabama | $297.3K | $330.1K | +11.0% |
| Eisenhower | $325K | $340K | +4.6% |
| Richmond | $345K | $355K | +2.9% |
| Parkdale | $346K | $347.4K | 0.4% |
Housing Supply in Alabama, FL
How many homes are available in Alabama, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 241 | 228 | -5.4% |
Summary: The Alabama real estate market had 228 homes for sale in October 2024, a 5.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 48 | 46 | -4.2% |
| 3 Bedrooms | 118 | 118 | 0.0% |
| 4 Bedrooms | 70 | 59 | -15.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Alabama 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 4.2%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 15.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 25 | -47.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alabama, you may be able to get a good deal. 52% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Alabama in October 2024, down by 47.9% month-over-month. Of the 25 sold homes, 52% were sold under asking, 28% were sold at asking, and 20% were sold over asking.
Days on Market for Alabama, FL
How long does it take to sell a home in Alabama, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 51 Days | 55 Days | +9.0% |
Summary: Homes in Alabama had an average of 55 days on market in Oct 2024, up by 9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alabama are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in Alabama; 44% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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