Prattville Latest Market Trend as of September 2024

Hey there, Buyers and Sellers!

Let's dive into the exciting world of real estate metrics and explore how they all tie together to give you a comprehensive picture of the market.

First up, we have the Months Supply of Inventory, which currently stands at 1.99. This metric tells us how many months it would take to sell all the current inventory of homes on the market if no new listings were added. A lower number indicates a seller's market, where demand outstrips supply.

Next, let's look at the 12-Month Change in Months of Inventory, which is a positive 6.99%. This means that there has been an increase in the amount of time it would take to sell all the homes on the market. While this could indicate a shift towards a buyer's market, it's important to consider other factors as well.

The Median Days Homes are On the Market is a speedy 31 days. This tells us that homes are selling relatively quickly in this market, which could be good news for sellers looking to make a move.

When we look at the List to Sold Price Percentage of 99.5%, we see that homes are typically selling very close to their listing price. This could indicate strong competition among buyers or well-priced homes in the market.

Lastly, the Median Sold Price of $274,000 gives us an idea of the average price at which homes are selling. This number can help both buyers and sellers gauge the overall value of properties in the market.

Overall, these metrics paint a picture of a market with low inventory, fast-moving homes, and strong prices. Whether you're looking to buy or sell, it's important to consider all these factors to make informed decisions in today's real estate market. So, let's get out there and find your dream home or make that sale a reality!