Is Tallassee, 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, Tallassee was a Seller's Market.
Key Takeaway
Tallassee is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Tallassee, AL
How much do homes in Tallassee, AL cost?
Median Sold Price
$191,000
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Tallassee have sold for 40% more than they did a year ago.
Summary: The median home sold price in Tallassee was $191,000 in March 2024, up 40% from last year, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $70K | $108K | +54.3% |
| 3 Bedrooms | $148K | $189K | +27.7% |
| 4 Bedrooms | $190K | $335K | +76.3% |
| 5+ Bedrooms | $264K | $487.5K | +84.7% |
Summary: Tallassee 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 54.3%, 3 bedroom homes increased by 27.7%, 4 bedroom homes increased by 76.3%, and 5+ bedroom homes increased by 84.7%.
Median Sold Price Compared To Nearby Cities
| Tallassee | $136.4K | $191K | +40.0% |
| Tallassee | $153K | $189.5K | +23.9% |
Housing Supply in Tallassee, AL
How many homes are available in Tallassee, AL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 33 | +26.9% |
Summary: The Tallassee real estate market had 33 homes for sale in March 2024, a 26.9% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 17 | 21 | +23.5% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Tallassee 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 25%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tallassee, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Tallassee in March 2024, down by 42.9% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 165 Days | 148 Days | -10.2% |
Summary: Homes in Tallassee had an average of 148 days on market in Mar 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Tallassee are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Tallassee; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
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