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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wetumpka is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Wetumpka, AL

How much do homes in Wetumpka, AL cost?

Median Sold Price

$274,960

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$50,060(+22.3%)

Key Takeaway

Homes in Wetumpka have sold for 22.3% more than they did a year ago.

Summary: The median home sold price in Wetumpka was $274,960 in February 2024, up 22.3% from last year, and the median price per square foot was $141.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $108.7K$107.5K
-1.1%
3 $193.4K$226.3K
+17.0%
4 $338.4K$340K
0.5%
5+ $359.5K$447.4K
+24.5%

Summary: Wetumpka housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 24.5%.

Housing Supply in Wetumpka, AL

How many homes are available in Wetumpka, AL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
112134+19.6%

Summary: The Wetumpka real estate market had 134 homes for sale in February 2024, a 19.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 66
0.0%
3 4759
+25.5%
4 5058
+16.0%
5+ 911
+22.2%

Summary: The Wetumpka housing inventory by bedroom type for February 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 25.5%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2029+45.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wetumpka, expect to pay close to the asking price. 58.6% of homes here sold near the asking price last month.

Summary: A total of 29 homes were sold or pending in Wetumpka in February 2024, up by 45.0% month-over-month. Of the 29 sold homes, 31% were sold under asking, 59% were sold at asking, and 10% were sold over asking.

Days on Market for Wetumpka, AL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
79 Days61 Days-22.4%

Summary: Homes in Wetumpka had an average of 61 days on market in Feb 2024, down by 22.4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Wetumpka are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 29 homes were sold in Wetumpka; 41% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 24% 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 27 Days Ago

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