Is Mount Meigs, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mount Meigs was a Seller's Market.
Key Takeaway
Mount Meigs 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 Mount Meigs, AL
How much do homes in Mount Meigs, AL cost?
Median Sold Price
$303,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mount Meigs have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Mount Meigs was $303,500 in April 2024, up 3.6% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $125.5K | - | N/A |
| 3 Bedrooms | $269K | $278.4K | +3.5% |
| 4 Bedrooms | $318.5K | $340.3K | +6.9% |
| 5+ Bedrooms | $320K | - | N/A |
Summary: Mount Meigs housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Mount Meigs | $293K | $303.5K | +3.6% |
| Montgomery | $170.7K | $174.4K | +2.2% |
| Pike Road | $364.9K | $355.7K | -2.5% |
Housing Supply in Mount Meigs, AL
How many homes are available in Mount Meigs, AL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 36 | +9.1% |
Summary: The Mount Meigs real estate market had 36 homes for sale in April 2024, a 9.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Mount Meigs housing inventory by bedroom type for April 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 8.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Meigs, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Mount Meigs in April 2024, down by 33.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Mount Meigs, AL
How long does it take to sell a home in Mount Meigs, AL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 116 Days | +115.1% |
Summary: Homes in Mount Meigs had an average of 116 days on market in Apr 2024, up by 115.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Mount Meigs are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 6 homes were sold in Mount Meigs; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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