Montgomery-area home prices rose 3.4% in May, with houses for sale in high demand

The weekend arrived in central Alabama with temperatures falling from triple digits to the mid-90s, and the area’s housing industry was cooling off at about the very same price — from inferno to bonfire.

Sandra Nickel of Hat Group Realtors in Montgomery said costs are nonetheless likely up, just not very as rapid. “The genuinely excellent news is that consumers are searching at a more ordinary predicament,” Nickel stated. “We are not a normal market place, but we are normalizing.”

A standard Montgomery County household listed for $222,400 in May possibly, up 3.4% from a thirty day period before, an assessment of information from Real estate agent.com reveals.

The median list property selling price in May was down about 11% from May well 2021. Montgomery County’s median residence was 2,053 sq. feet for a stated selling price of $104 for each square foot.

The Montgomery County industry was chaotic, with a median 30 days on sector. A month previously, households experienced a median 38 days on sector. The market additional 356 new property listings in May possibly, compared with the 396 extra in Could 2021. The marketplace ended the month with some 346 listings of homes for sale.

Info on your regional housing market place is out there by way of the Usa Right now Community, with additional information from Real estate agent.com.

Elmore County property charges fall 1.5% to $304,382

A residence on the current market in Elmore County a number of months back may have proven to 100 people and gotten 20 features, and now it might present to 20 people today and get five offers, stated Angie Carter of RE/MAX Cornerstone Realty in Wetumpka.

“We are still functioning with a sellers market place,” Carter said. “We have far more purchasers than we have listings.”

Elmore County’s residence selling prices fell 1.5%, to a median $304,382, from a month before. The typical home was on the market for 38 times, from 36 times a month before. The normal 2,100-square-foot dwelling experienced a checklist value of $131 for each sq. foot.

Throughout the broader Montgomery metro area, median house price ranges fell to $245,500, down 1.4% from a thirty day period before. The median dwelling had 2,079 sq. feet, at a record rate of $116 for every square foot.

Throughout all of Alabama, median dwelling rates were being $313,950, climbing 4.7% from a thirty day period previously. The median Alabama household for sale experienced 1,996 sq. feet at list price of $150 for each sq. foot.

Story carries on

Throughout the United States, median house charges were being $446,950, up 5.2% from a month before. The median American house for sale had 1,861 sq. ft, outlined at $226 for each sq. foot.

The median home listing value — the midway point of all the homes or models shown above a period of time of time — is utilised much more normally in this report as an alternative of the ordinary dwelling checklist price simply because experts say the median delivers a extra precise look at of what’s occurring in a current market. In discovering the regular selling price, all prices of residences detailed are additional and then divided by the amount of households marketed. This measure can be skewed by 1 low or significant selling price.

The United states of america Today Network is publishing localized variations of this tale on its information sites across the nation, created with facts from the Realtor.com residential listings database. The tale was written by Brad Harper, Mike Stucka and Sean Lahman.

This short article at first appeared on Montgomery Advertiser: Montgomery-spot homes for sale rose to $222,400 median rate