Is Silverhill, 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, Silverhill was a Seller's Market.
Key Takeaway
Silverhill is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Silverhill, AL
How much do homes in Silverhill, AL cost?
Median Sold Price
$282,690
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Silverhill have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Silverhill was $282,690 in April 2024, up 1.2% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255K | $330K | +29.4% |
| 3 Bedrooms | $274.7K | $277.5K | +1.0% |
| 4 Bedrooms | $279.2K | $284.9K | +2.0% |
| 5+ Bedrooms | $315K | $485K | +54.0% |
Summary: Silverhill 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 increased by 29.4%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 54%.
Housing Supply in Silverhill, AL
How many homes are available in Silverhill, AL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 39 | +14.7% |
Summary: The Silverhill real estate market had 39 homes for sale in April 2024, a 14.7% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 18 | 22 | +22.2% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Silverhill 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 increased by 50%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silverhill, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Silverhill in April 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Silverhill, AL
We’re sorry, we don't have information for this market at the moment
Listing information Copyright © 2024 Baldwin County Association of REALTORS®, Inc. All rights reserved. MLS IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.