Is 36551, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 36551 has remained a Seller's Market.
Key Takeaway
36551 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 36551, AL
How much do homes in 36551, AL cost?
Median Sold Price
$295,657
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 36551 have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in 36551 was $295,657 in May 2024, up 9.5% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203K | - | N/A |
| 2 Bedrooms | $264.9K | $265K | 0.0% |
| 3 Bedrooms | $262.5K | $273.9K | +4.4% |
| 4 Bedrooms | $290K | $329K | +13.4% |
| 5+ Bedrooms | $782.5K | $415K | -47.0% |
Summary: 36551 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes decreased by 47%.
Housing Supply in 36551, AL
How many homes are available in 36551, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 75 | +10.3% |
Summary: The 36551 real estate market had 75 homes for sale in May 2024, a 10.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 22 | 29 | +31.8% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 36551 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 31.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 21 | +50.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 36551, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 36551 in May 2024, up by 50.0% month-over-month. Of the 19 sold homes, 68% were sold under asking, 16% were sold at asking, and 16% were sold over asking.
Days on Market for 36551, 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.