A look at new real estate trends in Alabama from July
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Let’s face it, the housing market nationwide has been pretty tough to navigate in the last few years, and 2024 seems to be just as tough.
With fluctuating rates, inventory changes and more factors entering the real estate equation, Alabama communities are seeing some interesting trends these days. Here’s a look at some stats from July 2024:
Real estate trends in Alabama communities
The Alabama Center for Real Estate has housing data by county listed on its website, which can be a great tool for future home buyers.We were able to pull date from ACRE, as well as Redfin, and compile a snapshot of what the housing market looked like in some of Alabama’s communities in July 2024:
| Birmingham | Median Home Price: $148,250 | % Change from 2023: -11.2 | Median days on market: 49 |
| Huntsville | Median Home Price: $337,000 | % Change from 2023: +0.3 | Median Days on Market: 49 |
| Montgomery | Median Home Price: $188,450 | % Change from 2023: +14.2 | Median days on market: 55 |
| Mobile | Median Home Price: $208,000 | % Change from 2023: +12.4 | Median days on market: 32 |
| Dothan | Median Home Price: $225,000 | % Change from 2023: +9.3 | Median days on market: 42 |
| Tuscaloosa | Median Home Price: $259,900 | % Change from 2023: +1.9 | Median days on market: 22 |
| Hoover | Median Home Price: $440,000 | % Change from 2023: -4.1 | Median days on market: 42 |
| Fairhope | Median Home Price: $465,750 | % Change from 2023: -10.4 | Median days on market: 53 |
| Florence | Median Home Price: $253,000 | % Change from 2023: +30.9 | Median Days on Market: 5 |
| Madison | Median Home Price: $445,500 | % Change from 2023: -7.3 | Median Days on Market: 44 |
How Alabama real estate compares to the rest of the U.S.
According to the Federal Reserve, the median home sales price in the United States is $412,300 as of the second quarter of 2024, down 3.4% from last quarter.
The median home price in Alabama, as of July, is $228,223.
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