The housing market in Lanett continues to see strong price appreciation, with values up 38.9% compared to last year. Home prices have decreased 29.2% in the past month. With 2.8 months of supply, Lanett's inventory levels remain relatively tight. Properties are selling within just 15 days on average, much faster than the historical norm of 33 days. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Lanett market with the affordability index at 130.7. Based on current market indicators, home prices in Lanett are projected to increase by approximately 11.6% over the next month.
Lanett, AL has a total population of 6,985 residents. African American residents comprise 57.1% of the community. This creates a relatively diverse demographic makeup for the area. The small population size creates an intimate community atmosphere in Lanett, AL.
Crime analysis for Lanett, AL shows 45 total incidents across all categories. The most prevalent crime type is Assault (44.4% of all incidents). This is followed by Property Crime at 33.3%. The crime rate in Lanett, AL is very low, with violent crimes being more common than property crimes. This suggests Lanett, AL is generally a safe area for residents and visitors.
Market predictions for Lanett, AL show relatively stable home prices with minimal change (0.8%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Lanett, AL is approximately $140,571.932. The stable price trend suggests a balanced market in Lanett, AL, suitable for both buyers and sellers.
Investment hotspot data for Lanett, AL is currently unavailable.
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