The housing market in Gadsden continues to see strong price appreciation, with values up 36.2% compared to last year. Home prices have increased 31.2% in the past month alone. With 3.4 months of supply, Gadsden's inventory levels remain relatively tight. Homes are now taking an average of 74 days to sell, significantly longer than the 38 days typical for this market. A significant 32.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 2.7% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Gadsden market with the affordability index at 39.4. Based on current market indicators, home prices in Gadsden are projected to decrease by approximately 6.4% over the next month.
Gadsden, AL has a total population of 38,474 residents. The area is predominantly White (51.3%), African American residents comprise 34.2% of the community. This creates a relatively diverse demographic makeup for the area. As a smaller community, Gadsden, AL offers a close-knit residential environment.
Crime analysis for Gadsden, AL shows 152 total incidents across all categories. The most prevalent crime type is Assault (65.1% of all incidents). This is followed by Property Crime at 28.9%. The crime rate in Gadsden, AL is relatively low, with violent crimes being more common than property crimes. This suggests Gadsden, AL is generally a safe area for residents and visitors.
Market predictions for Gadsden, AL show a downward trend in home prices, with values decreasing by 8.5%. This indicates a moderate but notable price trend. The current median home price in Gadsden, AL is approximately $171,262.094. The declining trend suggests this may be a buyer's market, with potential opportunities for those looking to purchase property in Gadsden, AL.
Gadsden, AL features 1 investment hotspots with varying levels of activity. The low average nightly rate of $95 indicates a budget-friendly market. The average rating of 3.8/5 indicates moderate guest satisfaction. With an average hotspot score of 0.67, these areas show good investment opportunities. With only 3 hotels, this represents an emerging market with potential for growth.
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