Is Selma, 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, Selma was a Seller's Market.
Housing Prices in Selma, AL
How much do homes in Selma, AL cost?
Median Sold Price
$110,000
$64/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Selma was $110,000 in March 2024, up 15.8% from last year, and the median price per square foot was $64.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $49K | $38K | -22.4% |
3 Bedrooms | $104.9K | $115.5K | +10.1% |
4 Bedrooms | $144K | $139.7K | -3.0% |
5+ Bedrooms | $288.7K | $179K | -38.0% |
Summary: Selma 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 decreased by 22.4%, 3 bedroom homes increased by 10.1%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 38%.
Median Sold Price Compared To Nearby Cities
Selma | $95K | $110K | +15.8% |
Valley Grande | $151.5K | $170K | +12.2% |
Housing Supply in Selma, AL
How many homes are available in Selma, AL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
81 | 85 | +4.9% |
Summary: The Selma real estate market had 85 homes for sale in March 2024, a 4.9% 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 | 12 | 11 | -8.3% |
3 Bedrooms | 50 | 48 | -4.0% |
4 Bedrooms | 14 | 17 | +21.4% |
5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Selma 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 decreased by 8.3%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 13 | +62.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Selma in March 2024, up by 62.5% month-over-month. Of the 13 sold homes, 62% were sold under asking, 23% were sold at asking, and 15% were sold over asking.
Days on Market for Selma, AL
How long does it take to sell a home in Selma, AL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
54 Days | 81 Days | +50.0% |
Summary: Homes in Selma had an average of 81 days on market in Mar 2024, up by 50% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in Selma; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.