Is Lanett, 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, Lanett was a Seller's Market.
Housing Prices in Lanett, AL
How much do homes in Lanett, AL cost?
Median Sold Price
$141,500
$91/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lanett was $141,500 in March 2024, up 28.6% from last year, and the median price per square foot was $91.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $49K | $74.5K | +52.0% |
3 Bedrooms | $118K | $134.9K | +14.3% |
4 Bedrooms | $90K | $277.4K | +208.3% |
5+ Bedrooms | $175K | $369.9K | +111.4% |
Summary: Lanett 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 52%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 208.3%, and 5+ bedroom homes increased by 111.4%.
Median Sold Price Compared To Nearby Cities
Valley | $129.2K | $178.5K | +38.1% |
Lanett | $110K | $141.5K | +28.6% |
West Point | $194K | $212.4K | +9.5% |
West Point | $198.9K | $212.4K | +6.8% |
Housing Supply in Lanett, AL
How many homes are available in Lanett, AL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 22 | +10.0% |
Summary: The Lanett real estate market had 22 homes for sale in March 2024, a 10.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 12 | 14 | +16.7% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lanett 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 remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Lanett in March 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lanett, AL
How long does it take to sell a home in Lanett, AL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
9 Days | 65 Days | +600.0% |
Summary: Homes in Lanett had an average of 65 days on market in Mar 2024, up by 600% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Lanett; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.