Is Elberta, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Elberta was a Buyer's Market.
Key Takeaway
Elberta 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 Elberta, AL
How much do homes in Elberta, AL cost?
Median Sold Price
$360,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elberta have sold for 20.5% less than they did a year ago.
Summary: The median home sold price in Elberta was $360,000 in March 2024, down 20.5% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $367.5K | N/A |
| 2 Bedrooms | $180K | $296.4K | +64.7% |
| 3 Bedrooms | $340K | $318K | -6.5% |
| 4 Bedrooms | $585K | $344K | -41.2% |
| 5+ Bedrooms | $760K | $943.7K | +24.2% |
Summary: Elberta housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 64.7%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 41.2%, and 5+ bedroom homes increased by 24.2%.
Housing Supply in Elberta, AL
How many homes are available in Elberta, AL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 76 | +10.1% |
Summary: The Elberta real estate market had 76 homes for sale in March 2024, a 10.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 28 | 32 | +14.3% |
| 4 Bedrooms | 30 | 31 | +3.3% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Elberta housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elberta, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Elberta in March 2024, up by 50.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 42% were sold at asking, and 8% were sold over asking.
Days on Market for Elberta, AL
We’re sorry, we don't have information for this market at the moment
Listing information Copyright © 2024 Baldwin County Association of REALTORS®, Inc. All rights reserved. MLS IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.