Gallant's real estate market is experiencing a price correction, with values down 19.1% from last year. The median home price has fallen to $275,000, a significant 19.1% decrease year-over-year. At the current pace, all available homes in Gallant would sell out in just 1.0 months, indicating a continued supply shortage. Homes are now taking an average of 620 days to sell, significantly longer than the 50 days typical for this market. A significant 100.0% 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 Gallant market with the affordability index at 2037.0. Looking ahead, the Gallant market is expected to maintain its current trajectory with relatively stable conditions.
Gallant, AL has a total population of 857 residents. The area is predominantly White (100.0%), The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Gallant, AL.
Market predictions for Gallant, AL show an upward trend in home prices, with values increasing by 9.1%. This indicates a moderate but notable price trend. The current median home price in Gallant, AL is approximately $306,034.345. Based on current trends, home prices in Gallant, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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