The housing market in Homewood continues to see strong price appreciation, with values up 29.8% compared to last year. Home prices have increased 34.3% in the past month alone. With 2.1 months of supply, Homewood's inventory levels remain relatively tight. Properties are selling within just 7 days on average, much faster than the historical norm of 30 days. The majority of homes (58.8%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Homewood market with the affordability index at 134.3. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
Homewood, AL has a total population of 27,997 residents. The area is predominantly White (74.7%), The African American population is 10.1%. The area shows moderate demographic diversity. As a smaller community, Homewood, AL offers a close-knit residential environment.
Crime analysis for Homewood, AL shows 68 total incidents across all categories. The most prevalent crime type is Property Crime (50.0% of all incidents). This is followed by Assault at 42.6%. The crime rate in Homewood, AL is very low, with violent crimes being more common than property crimes. This suggests Homewood, AL is generally a safe area for residents and visitors.
Market predictions for Homewood, AL show relatively stable home prices with minimal change (-0.5%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Homewood, AL is approximately $620,018.778. The stable price trend suggests a balanced market in Homewood, AL, suitable for both buyers and sellers.
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