With only 2.4 months of inventory, New Market remains a seller's market. Home prices have increased 2.0% in the past month alone. With 2.4 months of supply, New Market's inventory levels remain relatively tight. Sales volume is down 50% compared to seasonal expectations. A significant 33.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 40.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the New Market market with the affordability index at 1289.2. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
New Market, AL has a total population of 1,081 residents. The area is predominantly White (87.1%), The African American population is 8.2%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in New Market, AL.
Market predictions for New Market, AL show an upward trend in home prices, with values increasing by 2.8%. This suggests a gradual price adjustment in the market. The current median home price in New Market, AL is approximately $243,869.444. The stable price trend suggests a balanced market in New Market, AL, suitable for both buyers and sellers.
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