The present housing market in Point Clear is down with high active listings and low sales volume. Home prices have decreased 67.9% in the past month. At the current sales pace, it would take over 10.0 months to sell all available homes in Point Clear, indicating an oversupplied market. Homes are now taking an average of 100 days to sell, significantly longer than the 49 days typical for this market. A significant 35.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Point Clear market with the affordability index at 1648.0. Current trends suggest further price adjustments may occur as the market continues to favor buyers.
Point Clear, AL has a total population of 2,266 residents. The area is predominantly White (57.2%), African American residents comprise 39.0% of the community. This creates a relatively diverse demographic makeup for the area. The small population size creates an intimate community atmosphere in Point Clear, AL.
Market predictions for Point Clear, AL show relatively stable home prices with minimal change (-0.0%) over the recent period. This suggests a gradual price adjustment in the market. The current median home price in Point Clear, AL is approximately $605,302.926. The stable price trend suggests a balanced market in Point Clear, AL, suitable for both buyers and sellers.
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