Check out which Alabama real estate markets are now on the rise

Real Estate
See which real estate markets in Alabama are on the rise. (Liv George / The Bama Buzz)

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

Real Estate
Real estate prices have increased significantly in the Birmingham metro. (Bham Now)

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:

BirminghamMedian Home Price: $190,000% Change from 2023: +26.7Median days on market: 49
HuntsvilleMedian Home Price: $330,950% Change from 2023: -15.8Median days on market: 37
MobileMedian Home Price: $205,000% Change from 2023: +0.04Median days on market: 28
MontgomeryMedian Home Price: $158,500% Change from 2023: -14.3Median days on market: 52
TuscaloosaMedian Home Price: $280,929% Change from 2023: -1.4Median days on market: 46
DothanMedian Home Price: $229,900% Change from 2023: -0.48Median days on market: 38
HooverMedian Home Price: $422,250% Change from 2023: +1.1Median days on market: 42
FairhopeMedian Home Price: $502,000% Change from 2023: –1.6Median days on market: 50
FlorenceMedian Home Price: $195,000% Change from 2023: +5.5Median days on market: 23
MadisonMedian Home Price: $370,000% Change from 2023: –15.0Median days on market: 38
Source: Redfin
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house for sale by owner” by Images_of_Money is licensed under CC BY 2.0

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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Michael Seale
Michael Seale
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