Is Selma, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Selma was a Seller's Market.
Housing Prices in Selma, AL
How much do homes in Selma, AL cost?
Median Sold Price
$118,450
$66/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Selma was $118,450 in May 2024, up 20.3% from last year, and the median price per square foot was $66.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $49K | $33.8K | -31.0% |
3 Bedrooms | $111K | $113.9K | +2.7% |
4 Bedrooms | $100K | $169.9K | +69.9% |
5+ Bedrooms | $288.7K | $190K | -34.2% |
Summary: Selma 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 decreased by 31%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 69.9%, and 5+ bedroom homes decreased by 34.2%.
Median Sold Price Compared To Nearby Cities
Selmont-Tyler | $88K | $269.9K | +206.8% |
Selma | $98.4K | $118.4K | +20.3% |
Housing Supply in Selma, AL
How many homes are available in Selma, AL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
89 | 96 | +7.9% |
Summary: The Selma real estate market had 96 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 13 | 14 | +7.7% |
3 Bedrooms | 51 | 58 | +13.7% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Selma housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 10 | +11.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Selma in May 2024, up by 11.1% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Selma, AL
How long does it take to sell a home in Selma, AL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 80 Days | +98.1% |
Summary: Homes in Selma had an average of 80 days on market in May 2024, up by 98.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Selma; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.