Check out which Alabama real estate markets are now on the rise
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The real estate market nationwide will be interesting to watch now that the news of an interest rate decrease has surfaced. In Alabama, we have seen many areas continue to experience increases in median home prices, while other markets in the state have experienced the opposite.
Here’s a look at some of the state’s housing markets in August:
Real estate prices up Birmingham, down in Huntsville
In August, real estate prices increased significantly in the Birmingham market — up more than 26 percent from this point last year — while home prices in Huntsville, and its neighbor city Madison — saw decreases of 15 percent or more in August.
Here’s a look at the August real estate stats for some Alabama communities:
| Birmingham | Median Home Price: $190,000 | % Change from 2023: +26.7 | Median days on market: 49 |
| Huntsville | Median Home Price: $330,950 | % Change from 2023: -15.8 | Median days on market: 37 |
| Mobile | Median Home Price: $205,000 | % Change from 2023: +0.04 | Median days on market: 28 |
| Montgomery | Median Home Price: $158,500 | % Change from 2023: -14.3 | Median days on market: 52 |
| Tuscaloosa | Median Home Price: $280,929 | % Change from 2023: -1.4 | Median days on market: 46 |
| Dothan | Median Home Price: $229,900 | % Change from 2023: -0.48 | Median days on market: 38 |
| Hoover | Median Home Price: $422,250 | % Change from 2023: +1.1 | Median days on market: 42 |
| Fairhope | Median Home Price: $502,000 | % Change from 2023: –1.6 | Median days on market: 50 |
| Florence | Median Home Price: $195,000 | % Change from 2023: +5.5 | Median days on market: 23 |
| Madison | Median Home Price: $370,000 | % Change from 2023: –15.0 | Median days on market: 38 |
The median home price for the state in August was $281,400, up 1.4 percent from last year. Alabama’s median home price still stands considerable lower than the national median price of $412,300, according to the Federal Reserve.
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