With only 2.8 months of inventory, Millbrook remains a seller's market. Home prices have increased 8.5% in the past month alone. With 2.8 months of supply, Millbrook's inventory levels remain relatively tight. Homes are taking about 34 days to sell, which is -10 days longer than this time last year. Approximately 23.8% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Millbrook market with the affordability index at 133.6. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
Millbrook, AL has a total population of 17,258 residents. The area is predominantly White (64.6%), African American residents comprise 23.5% of the community. The area shows moderate demographic diversity. As a smaller community, Millbrook, AL offers a close-knit residential environment.
Crime analysis for Millbrook, AL shows 285 total incidents across all categories. The most prevalent crime type is Property Crime (75.1% of all incidents). This is followed by Assault at 20.0%. The crime rate in Millbrook, AL is relatively low, with violent crimes being more common than property crimes. While crime exists, Millbrook, AL maintains reasonable safety levels for most residents.
Market predictions for Millbrook, AL show an upward trend in home prices, with values increasing by 5.7%. This indicates a moderate but notable price trend. The current median home price in Millbrook, AL is approximately $295,776.462. Based on current trends, home prices in Millbrook, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Millbrook, AL features 1 investment hotspots with varying levels of activity. The average nightly rate of $103 suggests an affordable market for travelers. Guest satisfaction is good with an average rating of 4.1/5. With an average hotspot score of 0.68, these areas show good investment opportunities. With only 3 hotels, this represents an emerging market with potential for growth.
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