Is Fairhope, 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, Fairhope was a Seller's Market.
Key Takeaway
Fairhope 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 Fairhope, AL
How much do homes in Fairhope, AL cost?
Median Sold Price
$482,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Fairhope have sold for 0.5% less than they did a year ago.
Summary: The median home sold price in Fairhope was $482,000 in March 2024, down 0.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $326.3K | $362K | +10.9% |
| 2 Bedrooms | $300K | $340K | +13.3% |
| 3 Bedrooms | $390.9K | $419K | +7.2% |
| 4 Bedrooms | $547K | $566.3K | +3.5% |
| 5+ Bedrooms | $705K | $645K | -8.5% |
Summary: Fairhope housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Fairhope | $484.6K | $482K | -0.5% |
| Daphne | $342.1K | $319.7K | -6.5% |
Housing Supply in Fairhope, AL
How many homes are available in Fairhope, AL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 343 | 406 | +18.4% |
Summary: The Fairhope real estate market had 406 homes for sale in March 2024, a 18.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 19 | 28 | +47.4% |
| 3 Bedrooms | 138 | 158 | +14.5% |
| 4 Bedrooms | 148 | 176 | +18.9% |
| 5+ Bedrooms | 36 | 40 | +11.1% |
Summary: The Fairhope housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 47.4%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 62 | +31.9% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairhope, you may be able to get a good deal. 71.9% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Fairhope in March 2024, up by 31.9% month-over-month. Of the 57 sold homes, 72% were sold under asking, 25% were sold at asking, and 4% were sold over asking.
Days on Market for Fairhope, AL
We’re sorry, we don't have information for this market at the moment
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The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of the Greater Alabama Multiple Listing Service, Inc. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the content is not guaranteed accurate by the MLS. There is no express or implied warranty by MLS of the accuracy of information which should be independently verified. The Greater Alabama Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Copyright© 2024 Greater Alabama Multiple Listing Service, Inc. All Rights Reserved.
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Listing Information Copyright 2024 Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS®, Inc. All rights reserved. Information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. The information being provided is for consumers personal, non-commercial use and will not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this web site comes in part from the IDX Program of the Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS® Inc. Real estate listings held by brokerage firms other than this broker are governed by MLS Rules and Regulations and detailed information about them includes the name of the listing companies. 