The housing market in Munford continues to see strong price appreciation, with values up 15.6% compared to last year. Home prices have increased 44.4% in the past month alone. With 5 active listings, inventory is 400% higher than seasonal norms. Properties are selling within just 143 days on average, much faster than the historical norm of 367 days. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Munford market with the affordability index at 837.4. Based on current market indicators, home prices in Munford are projected to increase by approximately 7.9% over the next month.
Munford, AL has a total population of 1,460 residents. The area is predominantly White (63.1%), African American residents comprise 28.5% of the community. The area shows moderate demographic diversity. The small population size creates an intimate community atmosphere in Munford, AL.
Market predictions for Munford, AL show a downward trend in home prices, with values decreasing by 5.6%. This indicates a moderate but notable price trend. The current median home price in Munford, AL is approximately $264,868.723. The declining trend suggests this may be a buyer's market, with potential opportunities for those looking to purchase property in Munford, AL.
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