Is 36116, 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, 36116 has remained a Seller's Market.
Key Takeaway
36116 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 36116, AL
How much do homes in 36116, AL cost?
Median Sold Price
$166,666
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 36116 have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in 36116 was $166,666 in May 2024, down 3.1% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $80K | -62.8% |
| 2 Bedrooms | $126.7K | $188.5K | +48.8% |
| 3 Bedrooms | $129.5K | $136K | +5.0% |
| 4 Bedrooms | $245.7K | $253.3K | +3.1% |
| 5+ Bedrooms | $382.4K | $367.4K | -3.9% |
Summary: 36116 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.8%, 2 bedroom homes increased by 48.8%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 3.9%.
Housing Supply in 36116, AL
How many homes are available in 36116, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 170 | 166 | -2.4% |
Summary: The 36116 real estate market had 166 homes for sale in May 2024, a 2.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 80 | 80 | 0.0% |
| 4 Bedrooms | 66 | 66 | 0.0% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The 36116 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 30 | -14.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 36116, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in 36116 in May 2024, down by 14.3% month-over-month. Of the 30 sold homes, 47% were sold under asking, 40% were sold at asking, and 13% were sold over asking.
Days on Market for 36116, AL
How long does it take to sell a home in 36116, AL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 78 Days | 68 Days | -12.6% |
Summary: Homes in 36116 had an average of 68 days on market in May 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 36116 has remained consistent over time.
Summary: During May 2024, 30 homes were sold in 36116; 20% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
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