The present housing market in Locust Fork is down with high active listings and low sales volume. Home prices have decreased 29.3% in the past month. With 5 active listings, inventory is 400% higher than seasonal norms. Properties are selling within just 33 days on average, much faster than the historical norm of 623 days. A significant 40.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (100.0%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Locust Fork market with the affordability index at 954.6. Based on current market indicators, home prices in Locust Fork are projected to increase by approximately 3.8% over the next month.
Locust Fork, AL has a total population of 1,658 residents. The area is predominantly White (99.0%), The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Locust Fork, AL.
Market predictions for Locust Fork, AL show an upward trend in home prices, with values increasing by 8.7%. This indicates a moderate but notable price trend. The current median home price in Locust Fork, AL is approximately $231,375.696. Based on current trends, home prices in Locust Fork, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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