Is Tallassee, AL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tallassee is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Tallassee has remained a Seller's Market.

Key Takeaway

Tallassee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Tallassee, AL

How much do homes in Tallassee, AL cost?

Median Sold Price

$200,000

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$7,400(+3.8%)

Key Takeaway

Homes in Tallassee have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Tallassee was $200,000 in September 2024, up 3.8% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $91.8K$115K
+25.3%
3 $168K$200K
+19.0%
4 $327.5K$305K
-6.9%
5+ $389K$342.5K
-12.0%

Summary: Tallassee housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 19%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 12%.

Median Sold Price Compared To Nearby Cities

Tallassee
+3.8%
Tallassee
+3.8%

Housing Supply in Tallassee, AL

How many homes are available in Tallassee, AL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4540-11.1%

Summary: The Tallassee real estate market had 40 homes for sale in September 2024, a 11.1% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 55
0.0%
3 2624
-7.7%
4 119
-18.2%
5+ 32
-33.3%

Summary: The Tallassee housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1011+10.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tallassee, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Tallassee in September 2024, up by 10.0% month-over-month. Of the 11 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% were sold over asking.

Days on Market for Tallassee, AL

How long does it take to sell a home in Tallassee, AL?

Average Sale Time

Sep 2023Sep 2024CHANGE
34 Days56 Days+63.6%

Summary: Homes in Tallassee had an average of 56 days on market in Sep 2024, up by 63.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Tallassee has remained consistent over time.

Summary: During September 2024, 11 homes were sold in Tallassee; 36% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

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