The present housing market in Cordova is down with high active listings and low sales volume. Home prices have increased 88.9% in the past month alone. With 4.0 months of supply, Cordova's inventory levels remain relatively tight. Sales volume is down 50% compared to seasonal expectations. A significant 25.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (100.0%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Cordova market with the affordability index at 319.2. Based on current market indicators, home prices in Cordova are projected to increase by approximately 12.3% over the next month.
Cordova, AL has a total population of 1,582 residents. The area is predominantly White (87.3%), The African American population is 12.7%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Cordova, AL.
Crime analysis for Cordova, AL shows 15 total incidents across all categories. The most prevalent crime type is Property Crime (60.0% of all incidents). This is followed by Others at 26.7%. The crime rate in Cordova, AL is very low, with violent crimes being more common than property crimes. This suggests Cordova, AL is generally a safe area for residents and visitors.
Market predictions for Cordova, AL show an upward trend in home prices, with values increasing by 3.8%. This suggests a gradual price adjustment in the market. The current median home price in Cordova, AL is approximately $99,062.212. The stable price trend suggests a balanced market in Cordova, AL, suitable for both buyers and sellers.
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