The housing market in Montevallo continues to see strong price appreciation, with values up 17.0% compared to last year. Home prices have increased 2.4% in the past month alone. At the current pace, all available homes in Montevallo would sell out in just 1.8 months, indicating a continued supply shortage. Homes are now taking an average of 48 days to sell, significantly longer than the 25 days typical for this market. A significant 31.8% 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 Montevallo market with the affordability index at 280.0. Based on current market indicators, home prices in Montevallo are projected to decrease by approximately 15.2% over the next month.
Montevallo, AL has a total population of 7,214 residents. The area is predominantly White (70.0%), African American residents comprise 16.4% of the community. The area shows moderate demographic diversity. The small population size creates an intimate community atmosphere in Montevallo, AL.
Crime analysis for Montevallo, AL shows 30 total incidents across all categories. The most prevalent crime type is Property Crime (60.0% of all incidents). This is followed by Assault at 33.3%. The crime rate in Montevallo, AL is very low, with violent crimes being more common than property crimes. This suggests Montevallo, AL is generally a safe area for residents and visitors.
Market predictions for Montevallo, AL show an upward trend in home prices, with values increasing by 10.3%. This represents a significant price movement in the market. The current median home price in Montevallo, AL is approximately $238,341.07. Based on current trends, home prices in Montevallo, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Investment hotspot data for Montevallo, AL is currently unavailable.
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