The housing market in Clay continues to see strong price appreciation, with values up 13.7% compared to last year. Home prices have decreased 7.4% in the past month. With 2.9 months of supply, Clay's inventory levels remain relatively tight. Transaction volume is up 38% compared to what's typically expected this time of year. A significant 36.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Clay market with the affordability index at 215.2. Based on current market indicators, home prices in Clay are projected to decrease by approximately 7.8% over the next month.
Clay, AL has a total population of 10,142 residents. The area is predominantly White (60.4%), African American residents comprise 36.9% of the community. The area shows moderate demographic diversity. As a smaller community, Clay, AL offers a close-knit residential environment.
Crime analysis for Clay, AL shows 20 total incidents across all categories. The most prevalent crime type is Assault (75.0% of all incidents). This is followed by Property Crime at 25.0%. The crime rate in Clay, AL is very low, with violent crimes being more common than property crimes. This suggests Clay, AL is generally a safe area for residents and visitors.
Market predictions for Clay, AL show an upward trend in home prices, with values increasing by 8.6%. This indicates a moderate but notable price trend. The current median home price in Clay, AL is approximately $250,444.426. Based on current trends, home prices in Clay, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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