Daphne's real estate market is experiencing a price correction, with values down 8.3% from last year. Home prices have decreased 4.9% in the past month. With 3.5 months of supply, Daphne's inventory levels remain relatively tight. Homes are taking about 42 days to sell, which is 3 days longer than this time last year. A significant 35.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 14.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Daphne market with the affordability index at 94.7. Based on current market indicators, home prices in Daphne are projected to decrease by approximately 16.1% over the next month.
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