Fairhope's real estate market is experiencing a price correction, with values down 19.2% from last year. Home prices have decreased 5.7% in the past month. With 4.0 months of supply, Fairhope's inventory levels remain relatively tight. Homes are now taking an average of 102 days to sell, significantly longer than the 11 days typical for this market. A significant 75.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Fairhope market with the affordability index at 177.0. Based on current market indicators, home prices in Fairhope are projected to increase by approximately 111.7% over the next month.
Fairhope, AL has a total population of 23,453 residents. The area is predominantly White (84.8%), The area has a more homogeneous population distribution. As a smaller community, Fairhope, AL offers a close-knit residential environment.
Crime analysis for Fairhope, AL shows 121 total incidents across all categories. The most prevalent crime type is Property Crime (52.9% of all incidents). This is followed by Assault at 34.7%. The crime rate in Fairhope, AL is relatively low, with violent crimes being more common than property crimes. This suggests Fairhope, AL is generally a safe area for residents and visitors.
Market predictions for Fairhope, AL show an upward trend in home prices, with values increasing by 6.8%. This indicates a moderate but notable price trend. The current median home price in Fairhope, AL is approximately $582,986.675. Based on current trends, home prices in Fairhope, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Fairhope, AL features 2 investment hotspots with varying levels of activity. With an average nightly rate of $174, the market offers mid-range pricing opportunities. Hotspots maintain excellent guest satisfaction with an average rating of 4.5/5. With an average hotspot score of 0.74, these areas show good investment opportunities. With only 9 hotels, this represents an emerging market with potential for growth.
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