Choccolocco's real estate market is experiencing a price correction, with values down 8.6% from last year. Home prices have increased 27.6% in the past month alone. At the current pace, all available homes in Choccolocco would sell out in just 1.0 months, indicating a continued supply shortage. Homes are taking about 36 days to sell, which is -5 days longer than this time last year. Approximately 20.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Choccolocco market with the affordability index at 765.5. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
Choccolocco, AL has a total population of 3,257 residents. The area is predominantly White (88.1%), The African American population is 9.4%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Choccolocco, AL.
Market predictions for Choccolocco, AL show an upward trend in home prices, with values increasing by 11.2%. This represents a significant price movement in the market. The current median home price in Choccolocco, AL is approximately $299,496.28. Based on current trends, home prices in Choccolocco, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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