With only 2.5 months of inventory, Hoover remains a seller's market. Home prices have decreased 11.7% in the past month. With 2.5 months of supply, Hoover's inventory levels remain relatively tight. Homes are taking about 45 days to sell, which is 0 days longer than this time last year. A significant 30.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 12.5% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Hoover market with the affordability index at 39.7. Based on current market indicators, home prices in Hoover are projected to increase by approximately 42.2% over the next month.
Hoover, AL has a total population of 95,936 residents. The area is predominantly White (63.7%), African American residents comprise 16.4% of the community. with Asian residents representing 3.7%. The area shows moderate demographic diversity. With a mid-sized population, Hoover, AL provides a good balance of community feel and urban amenities.
Crime analysis for Hoover, AL shows 363 total incidents across all categories. The most prevalent crime type is Assault (51.8% of all incidents). This is followed by Property Crime at 37.7%. The crime rate in Hoover, AL is relatively low, with violent crimes being more common than property crimes. While crime exists, Hoover, AL maintains reasonable safety levels for most residents.
Market predictions for Hoover, AL show an upward trend in home prices, with values increasing by 6.1%. This indicates a moderate but notable price trend. The current median home price in Hoover, AL is approximately $479,676.98. Based on current trends, home prices in Hoover, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Hoover, AL features 2 investment hotspots with varying levels of activity. The average nightly rate of $118 suggests an affordable market for travelers. The average rating of 3.9/5 indicates moderate guest satisfaction. With an average hotspot score of 0.76, these areas show good investment opportunities. With only 12 hotels, this represents an emerging market with potential for growth.
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