Redland's real estate market is experiencing a price correction, with values down 7.9% from last year. Home prices have decreased 8.9% in the past month. With 6.4 months of supply, Redland's inventory levels remain relatively tight. Homes are taking about 49 days to sell, which is -34 days longer than this time last year. Approximately 20.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Redland market with the affordability index at 438.5. Looking ahead, the Redland market is expected to maintain its current trajectory with relatively stable conditions.
Redland, AL has a total population of 4,810 residents. The area is predominantly White (83.4%), The African American population is 10.9%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Redland, AL.
Market predictions for Redland, AL show an upward trend in home prices, with values increasing by 2.3%. This suggests a gradual price adjustment in the market. The current median home price in Redland, AL is approximately $344,387.017. The stable price trend suggests a balanced market in Redland, AL, suitable for both buyers and sellers.
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