The Hanceville housing market is showing balanced conditions with stable prices and moderate inventory levels. Home prices have increased 2.7% in the past month alone. With 4.3 months of supply, Hanceville's inventory levels remain relatively tight. Sales volume is down 56% compared to seasonal expectations. A significant 35.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 25.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Hanceville market with the affordability index at 359.3. Looking ahead, the Hanceville market is expected to maintain its current trajectory with relatively stable conditions.
Hanceville, AL has a total population of 3,379 residents. The area is predominantly White (92.3%), The African American population is 7.5%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Hanceville, AL.
Crime analysis for Hanceville, AL shows 30 total incidents across all categories. The most prevalent crime type is Assault (76.7% of all incidents). This is followed by Property Crime at 23.3%. The crime rate in Hanceville, AL is very low, with violent crimes being more common than property crimes. This suggests Hanceville, AL is generally a safe area for residents and visitors.
Market predictions for Hanceville, AL show an upward trend in home prices, with values increasing by 6.0%. This indicates a moderate but notable price trend. The current median home price in Hanceville, AL is approximately $191,848.11. Based on current trends, home prices in Hanceville, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Investment hotspot data for Hanceville, AL is currently unavailable.
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