The present housing market in Bessemer is down with high active listings and low sales volume. Home prices have decreased 6.0% in the past month. With 6.5 months of supply, Bessemer's inventory levels remain relatively tight. Sales volume is down 42% compared to seasonal expectations. A significant 32.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 26.7% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Bessemer market with the affordability index at 33.7. Based on current market indicators, home prices in Bessemer are projected to increase by approximately 7.7% over the next month.
Bessemer, AL has a total population of 27,057 residents. African American residents comprise 70.0% of the community. The area shows moderate demographic diversity. As a smaller community, Bessemer, AL offers a close-knit residential environment.
Crime analysis for Bessemer, AL shows 536 total incidents across all categories. The most prevalent crime type is Property Crime (72.2% of all incidents). This is followed by Assault at 21.6%. The crime rate in Bessemer, AL is moderate, with violent crimes being more common than property crimes. Residents and visitors should remain aware of their surroundings and take appropriate safety precautions.
Market predictions for Bessemer, AL show an upward trend in home prices, with values increasing by 4.1%. This suggests a gradual price adjustment in the market. The current median home price in Bessemer, AL is approximately $160,028.408. The stable price trend suggests a balanced market in Bessemer, AL, suitable for both buyers and sellers.
Bessemer, AL features 1 investment hotspots with varying levels of activity. The average nightly rate of $109 suggests an affordable market for travelers. The average rating of 3.8/5 indicates moderate guest satisfaction. The high average hotspot score of 0.82 indicates excellent investment potential in these areas. With only 12 hotels, this represents an emerging market with potential for growth.
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