The Alabama Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Alabama

💡 Key Alabama housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $228,241[1]#41 of 50 states37.7% lower
Median Listing Price $329,645[2]#36 of 50 states24.6% lower
Median Sale Price $437,809[3]#19 of 50 states7.3% higher
30 Year Mortgage Rate 7.06%[4]#46 of 50 states1.2% higher
Median Days on Market 55[5]#35 of 50 states10.2% longer
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🗺️ Buying a house in the Alabama real estate market

Alabama has an affordability score of 8.4, meaning it takes 8.4 years of the median household income ($52,035) to afford Alabama's median home sale price ($437,809). Because of this, we rank Alabama as the 6th least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $437,809[6]#19 of 50 states7.3% higher
30 Year Mortgage Rate 7.06%[7]#46 of 50 states1.2% higher
Median Household Income $52,035[8]#45 of 50 states19.4% lower
Affordability Ratio 8.4#45 of 50 states34.7% higher
Buyers Agent Commission 2.70%[9]#28 of 50 states0.9% higher
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Resources for Alabama home buyers

🗺️ Selling a house in the Alabama real estate market

According to our detailed survey of Alabama real estate agents, listing agents (those representing the seller) charge an average commission in Alabama of 2.75%, which is the 13th lowest in the United States. Buyers' agents charge an average commission of 2.7%, which is the 23rd highest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $329,645[10]#36 of 50 states24.6% lower
Median Sale Price $437,809[11]#19 of 50 states7.3% higher
Median Days on Market 55[12]#35 of 50 states10.2% longer
Buyer's Agent Commission 2.70%[13]#28 of 50 states0.9% higher
Listing Agent Commission 2.75%[14]#13 of 50 states3.8% lower
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Resources for Alabama home sellers

Moving to Alabama

According to our recent moving trends survey[15], 9% of Americans indicated that they would choose to move to Alabama if money were no object. Likewise, 11% of survey respondents indicated that they would move to Birmingham among a choice of America's largest cities.

Here's how Alabama cities rank in a number of our research studies.

StudyBest Alabama cityRank
Best Pizza Cities[16]Birmingham24th best
Best Coffee Cities[17]Birmingham42nd best
Best LGBTQ Cities[18]Birmingham47th best
Best Bike Cities[19]Birmingham39th best
Best Commuter Cities[20]Birmingham33rd best
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated April 30, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[3] Redfin – "Redfin Data Center".
[4] Bankrate – "Bankrate". Updated May 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[6] Redfin – "Redfin Data Center".
[7] Bankrate – "Bankrate". Updated May 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[11] Redfin – "Redfin Data Center".
[12] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate – "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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