T
he real estate market in Alabama is experiencing mixed trends. While some areas are seeing significant increases in median home prices, others are experiencing decreases.
In August, the Birmingham metro area saw a notable surge in real estate prices, with a 26.7% increase from last year. In contrast, Huntsville and Madison reported declines of 15% or more. Here's a snapshot of Alabama's housing markets in August:
* Birmingham: Median home price $190,000 (+26.7%), median days on market 49
* Huntsville: Median home price $330,950 (-15.8%), median days on market 37
* Mobile: Median home price $205,000 (0.04%), median days on market 28
* Montgomery: Median home price $158,500 (-14.3%), median days on market 52
* Tuscaloosa: Median home price $280,929 (-1.4%), median days on market 46
* Dothan: Median home price $229,900 (-0.48%), median days on market 38
* Hoover: Median home price $422,250 (+1.1%), median days on market 42
* Fairhope: Median home price $502,000 (-1.6%), median days on market 50
* Florence: Median home price $195,000 (+5.5%), median days on market 23
* Madison: Median home price $370,000 (-15.0%), median days on market 38
The state's median home price in August was $281,400, a 1.4% increase from last year. This is still lower than the national median price of $412,300, according to the Federal Reserve.
