Is Grand Bay, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grand Bay is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Grand Bay was a Seller's Market.

Key Takeaway

Grand Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Grand Bay, AL

How much do homes in Grand Bay, AL cost?

Median Sold Price

$274,200

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$45,800(-14.3%)

Key Takeaway

Homes in Grand Bay have sold for 14.3% less than they did a year ago.

Summary: The median home sold price in Grand Bay was $274,200 in May 2024, down 14.3% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $81.3K$130.5K
+60.5%
3 $243K$245K
+0.8%
4 $349.4K$348.4K
-0.3%
5+ $567.5K$543K
-4.3%

Summary: Grand Bay housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60.5%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 4.3%.

Median Sold Price Compared To Nearby Cities

Theodore
+2.8%
Tanner Williams
0.0%
Grand Bay
-14.3%

Housing Supply in Grand Bay, AL

How many homes are available in Grand Bay, AL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
73103+41.1%

Summary: The Grand Bay real estate market had 103 homes for sale in May 2024, a 41.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 2944
+51.7%
4 3850
+31.6%
5+ 69
+50.0%

Summary: The Grand Bay housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 51.7%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grand Bay, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Grand Bay in May 2024, down by 12.5% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.

Days on Market for Grand Bay, AL

We’re sorry, we don't have information for this market at the moment

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

Report Updated 13 Days Ago

Newest Listings in Grand Bay, AL

Nearby Markets to Grand Bay, AL

What housing markets are near Grand Bay, AL?