Is 36116, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 36116 has remained a Seller's Market.
Key Takeaway
36116 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 36116, AL
How much do homes in 36116, AL cost?
Median Sold Price
$165,000
$99/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 36116 have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in 36116 was $165,000 in April 2024, up 7.8% from last year, and the median price per square foot was $99.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $80K | -62.8% |
| 2 Bedrooms | $85.5K | $153.2K | +79.2% |
| 3 Bedrooms | $125K | $135K | +8.0% |
| 4 Bedrooms | $221K | $247.5K | +12.0% |
| 5+ Bedrooms | $393K | $369.9K | -5.9% |
Summary: 36116 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.8%, 2 bedroom homes increased by 79.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 5.9%.
Housing Supply in 36116, AL
How many homes are available in 36116, AL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 159 | 166 | +4.4% |
Summary: The 36116 real estate market had 166 homes for sale in April 2024, a 4.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 72 | 78 | +8.3% |
| 4 Bedrooms | 59 | 65 | +10.2% |
| 5+ Bedrooms | 16 | 13 | -18.8% |
Summary: The 36116 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes decreased by 18.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 33 | -5.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 36116, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in 36116 in April 2024, down by 5.7% month-over-month. Of the 33 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for 36116, AL
How long does it take to sell a home in 36116, AL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 77 Days | 69 Days | -10.3% |
Summary: Homes in 36116 had an average of 69 days on market in Apr 2024, down by 10.3% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 36116 has remained consistent over time.
Summary: During April 2024, 33 homes were sold in 36116; 36% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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