Is Elba, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elba is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Elba has remained a Seller's Market.

Key Takeaway

Elba is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Elba, AL cost?

Median Sold Price

$130,000

$68/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$31,500(+32.0%)

Key Takeaway

Homes in Elba have sold for 32% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 --
N/A
2 $175K$67K
-61.7%
3 $79K$128.5K
+62.7%
4 $200K$179K
-10.5%
5+ $161K$227K
+41.0%

How many homes are available in Elba, AL?

Number of Homes For Sale

Jul 2022Aug 2022%
812+50.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 03
+100.0%
3 67
+16.7%
4 11
0.0%
5+ 11
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
16+500.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elba, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
20 Days21 Days+2.4%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elba are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Elba, AL

There are 12 homes are for sale in Elba, AL real estate market. The number of homes for sale in Elba, AL increased by 50% between July 2022 and August 2022. While the average time on the market in August 2022 was 21 days, the median list price was $130,000. Listing prices have changed in this real estate market between July 2022 and August 2022: 1 bedroom properties became 0% more expensive, prices of 2 bedrooms properties went down by 61.7%, 3 bedrooms properties became 62.7% more expensive, 4 bedrooms properties became 10.5% more cheaper, 5 bedrooms properties became 41% more expensive. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory did not change, the quantity of 2 bedrooms homes went up by 100%, the quantity of 3 bedrooms homes went up by 16.7%, 4 bedrooms homes inventory did not change, the quantity of 5 bedrooms homes have not changed. Over 2 listings were sold over their listed price in August 2022 in Elba, AL. In the same period over 3 listings were sold below the listed price and 1 listings were sold for the listed price.