The housing market in Lipscomb continues to see strong price appreciation, with values up 447.5% compared to last year. Home prices have increased 136.8% in the past month alone. With 3.0 months of supply, Lipscomb's inventory levels remain relatively tight. Homes are now taking an average of 91 days to sell, significantly longer than the 14 days typical for this market. A significant 33.3% 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 Lipscomb market with the affordability index at 463.5. Based on current market indicators, home prices in Lipscomb are projected to decrease by approximately 25.7% over the next month.
Lipscomb, AL has a total population of 2,350 residents. African American residents comprise 58.3% of the community. This creates a relatively diverse demographic makeup for the area. The small population size creates an intimate community atmosphere in Lipscomb, AL.
Crime analysis for Lipscomb, AL shows 1 total incidents across all categories. The most prevalent crime type is Assault (100.0% of all incidents). The crime rate in Lipscomb, AL is very low, with violent crimes being more common than property crimes. This suggests Lipscomb, AL is generally a safe area for residents and visitors.
Market predictions for Lipscomb, AL show relatively stable home prices with minimal change (-1.1%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Lipscomb, AL is approximately $80,428.055. The stable price trend suggests a balanced market in Lipscomb, AL, suitable for both buyers and sellers.
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