The housing market in Florence continues to see strong price appreciation, with values up 17.9% compared to last year. Home prices have decreased 6.4% in the past month. With 106 active listings, inventory is 56% higher than seasonal norms. Homes are now taking an average of 74 days to sell, significantly longer than the 46 days typical for this market. A significant 33.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 18.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Florence market with the affordability index at 26.9. Based on current market indicators, home prices in Florence are projected to decrease by approximately 6.9% over the next month.
Florence, AL has a total population of 42,593 residents. The area is predominantly White (72.1%), African American residents comprise 18.2% of the community. The area shows moderate demographic diversity. As a smaller community, Florence, AL offers a close-knit residential environment.
Crime analysis for Florence, AL shows 381 total incidents across all categories. The most prevalent crime type is Property Crime (48.8% of all incidents). This is followed by Assault at 47.2%. The crime rate in Florence, AL is relatively low, with violent crimes being more common than property crimes. While crime exists, Florence, AL maintains reasonable safety levels for most residents.
Market predictions for Florence, AL show an upward trend in home prices, with values increasing by 16.1%. This represents a significant price movement in the market. The current median home price in Florence, AL is approximately $256,701.357. Based on current trends, home prices in Florence, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Florence, AL features 2 investment hotspots with varying levels of activity. The average nightly rate across hotspots is $201, indicating a premium market segment. Guest satisfaction is good with an average rating of 4.2/5. With an average hotspot score of 0.74, these areas show good investment opportunities. With only 7 hotels, this represents an emerging market with potential for growth.
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