Alabama real estate trends (May 2022)
How is the real estate market in Alabama?
🏠 Average home value: $215,294
📈 0.59% home value increase month over month
💰 Median sale price: $302,000
⏳ 45 days on the market
🔑 Homes on the market: 12,511
📆 2.3 months of housing inventory
🏦 30-year mortgage rate: 5.64000%
💵 Average income: 52035
State of the market: B+
Homes are flying off the market in Alabama, causing sales prices to climb steadily. Despite the faster sales, inventory is starting to improve, which may cause the market to cool.
*Data last updated May 2022
Alabama's population is growing as new residents choose the state as their home — and it's easy to understand why.
From the Appalachian foothills to the Gulf of Mexico, Alabama boasts 22 state parks that showcase the state's natural beauty. Residents enjoy mild winters and subtropical summers, with coastal breezes and plenty of sunny days.
The Yellowhammer State also has a rich history, from its capital in Montgomery to Birmingham — two cities that played crucial roles in the Civil Rights Movement.
If you're thinking of buying or selling in Alabama, these Alabama housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Alabama
Alabama real estate market forecast for sellers
⏰ Homes are selling 9 days slower than the annual average
💰 Homes are selling for $17,110 more than the annual average
💸 Average listing commission: 2.72%
💸 Average buyer's commission: 2.72%
How to sell a home in Alabama
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Alabama (June 2021 Rankings)
- 8 Steps to Selling a House in Alabama
- How to Sell a House By Owner in Alabama
- 4 Best Alabama Flat-Fee MLS Companies in 2021
- We Buy Houses for Cash Companies in Alabama (2021 Rankings)
Cost to sell a home in Alabama
- What's The Average Alabama Real Estate Commission In 2021?
- The Ultimate Guide to Alabama Real Estate Taxes
Buying a home in Alabama
How much home you can buy with $300,000 in...
🏠 Birmingham: 2,000 sq ft
🏡 Mobile: 2,326 sq ft
🏡 Huntsville: #DIV/0! sq ft
🏠 Montgomery: 2,459 sq ft
- How to Save with a Home Buyer Rebate
- The 8 Definitive Steps to Buying a House in Alabama
- The Best Time to Buy a House in Alabama
- The Ultimate Guide for Moving to Alabama
Investing in Alabama real estate
- Top 5 Best Real Estate Investment Markets in Alabama
- The Ultimate Guide to Flipping Houses in Alabama
- A Beginner's Guide to Buying an Apartment Building
Best of Alabama
Each month, we compare locations in Alabama based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.
Happiest Counties in Alabama
1. Shelby County
2. Madison County
3. Baldwin County
4. Morgan County
5. Limestone County
Worst of Alabama
Each month, we compare locations in Alabama based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.
Least Happy Counties in Alabama
1. Greene County
2. Perry County
3. Wilcox County
4. Lowndes County
5. Sumter County
- Alabama Real Estate Commission
- Alabama's real estate license verification
- Alabama's real estate agent code of conduct
- Alabama's disclosure forms
- Transfer taxes in Alabama
- Home buying assistance programs in Alabama
Frequently asked questions about Alabama real estate
It is currently a seller’s market in Alabama. The demand for homes in the state is high, driving prices up and forcing buyers to make quick offers on properties on the market. Although that’s the general situation across the state, it’s still best to consult with a local real estate agent to figure out the specific trends in your particular city.
Real estate is always a good investment, especially in bigger cities in Alabama, like Huntsville and Birmingham, where people are always looking for housing. However, to really maximize your investment, you have to also know where the best neighborhoods to buy real estate are and how to manage the properties after you buy. To find out more, check out our guide on real estate investing.
No, it currently is not an ideal time to buy a house in Alabama. Not only are real estate prices above average in the state, but mortgage rates are also rising. If you plan on buying a house in the state, then you will need the help of a top real estate agent to navigate the market and get you a good deal.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.