$4,631 Closing Credit*
$390,000
2,179 SqFt
3 Beds
•2 Full Baths
Rachel McKee, Listing Office: Keller Williams Homewood
Is Homewood, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Homewood has remained a Seller's Market.
Key Takeaway
Homewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homewood, AL
How much do homes in Homewood, AL cost?
Median Sold Price
$556,250
$317/sqft
Based on all homes sold in September 2024.
Difference Since Last Month
+$81,250(+17.1%)
Key Takeaway
Homes in Homewood have sold for 17.1% more than they did a month ago.
Summary: The median home sold price in Homewood was $556,250 in September 2024, up 17.1% from last month, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $188.7K | - | N/A |
| 2 Bedrooms | $285K | $210K | -26.3% |
| 3 Bedrooms | $475K | $581.2K | +22.4% |
| 4 Bedrooms | $646.3K | $475K | -26.5% |
| 5+ Bedrooms | $1.5M | $1.7M | +14.4% |
Summary: Homewood housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 26.3%, 3 bedroom homes increased by 22.4%, 4 bedroom homes decreased by 26.5%, and 5+ bedroom homes increased by 14.4%.
Median Sold Price Compared To Nearby Cities
| Homewood | $475K | $556.2K | +17.1% |
| Birmingham | $264.9K | $295.3K | +11.4% |
| Mountain Brook | $760K | $839K | +10.4% |
| Hoover | $469.9K | $455.5K | -3.1% |
| Vestavia Hills | $525K | $462K | -12.0% |
Housing Supply in Homewood, AL
How many homes are available in Homewood, AL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 72 | 82 | +13.9% |
Summary: The Homewood real estate market had 82 homes for sale in September 2024, a 13.9% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 30 | 36 | +20.0% |
| 4 Bedrooms | 22 | 22 | 0.0% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Homewood housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 25 | 18 | -28.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Homewood, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Homewood in September 2024, down by 28.0% month-over-month. Of the 18 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.
Days on Market for Homewood, AL
How long does it take to sell a home in Homewood, AL?
Average Sale Time
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 26 Days | 19 Days | -24.8% |
Summary: Homes in Homewood had an average of 19 days on market in Sep 2024, down by 24.8% compared to last month.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Homewood are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 18 homes were sold in Homewood; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
