With only 2.6 months of inventory, Pelham remains a seller's market. Home prices have increased 11.3% in the past month alone. With 2.6 months of supply, Pelham's inventory levels remain relatively tight. Homes are taking about 63 days to sell, which is 18 days longer than this time last year. A significant 28.1% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 17.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Pelham market with the affordability index at 123.0. Based on current market indicators, home prices in Pelham are projected to decrease by approximately 16.6% over the next month.
Pelham, AL has a total population of 28,097 residents. The area is predominantly White (67.2%), The African American population is 8.8%. The area shows moderate demographic diversity. As a smaller community, Pelham, AL offers a close-knit residential environment.
Crime analysis for Pelham, AL shows 103 total incidents across all categories. The most prevalent crime type is Assault (48.5% of all incidents). This is followed by Property Crime at 36.9%. The crime rate in Pelham, AL is relatively low, with violent crimes being more common than property crimes. This suggests Pelham, AL is generally a safe area for residents and visitors.
Market predictions for Pelham, AL show an upward trend in home prices, with values increasing by 8.0%. This indicates a moderate but notable price trend. The current median home price in Pelham, AL is approximately $359,227.036. Based on current trends, home prices in Pelham, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Pelham, AL features 1 investment hotspots with varying levels of activity. The average nightly rate of $103 suggests an affordable market for travelers. The average rating of 4.0/5 indicates moderate guest satisfaction. The high average hotspot score of 0.81 indicates excellent investment potential in these areas. With only 8 hotels, this represents an emerging market with potential for growth.
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