Is Bay Minette, 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, Bay Minette was a Seller's Market.
Key Takeaway
Bay Minette is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bay Minette, AL
How much do homes in Bay Minette, AL cost?
Median Sold Price
$240,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bay Minette have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Bay Minette was $240,000 in April 2024, up 9.1% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $131K | $120K | -8.4% |
| 3 Bedrooms | $215K | $231.2K | +7.6% |
| 4 Bedrooms | $270K | $279.9K | +3.7% |
| 5+ Bedrooms | $360K | $315K | -12.5% |
Summary: Bay Minette 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 decreased by 8.4%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 12.5%.
Housing Supply in Bay Minette, AL
How many homes are available in Bay Minette, AL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 67 | 82 | +22.4% |
Summary: The Bay Minette real estate market had 82 homes for sale in April 2024, a 22.4% 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 | 7 | 11 | +57.1% |
| 3 Bedrooms | 41 | 47 | +14.6% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Bay Minette 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 57.1%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay Minette, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Bay Minette in April 2024, up by 42.9% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% were sold over asking.
Days on Market for Bay Minette, AL
We’re sorry, we don't have information for this market at the moment
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