Saraland's real estate market is experiencing a price correction, with values down 10.4% from last year. Home prices have decreased 7.8% in the past month. With 2.4 months of supply, Saraland's inventory levels remain relatively tight. Homes are taking about 26 days to sell, which is 2 days longer than this time last year. A significant 40.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 5.9% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Saraland market with the affordability index at 113.3. Looking ahead, the Saraland market is expected to maintain its current trajectory with relatively stable conditions.
Saraland, AL has a total population of 14,064 residents. The area is predominantly White (83.2%), The African American population is 11.8%. The area has a more homogeneous population distribution. As a smaller community, Saraland, AL offers a close-knit residential environment.
Crime analysis for Saraland, AL shows 113 total incidents across all categories. The most prevalent crime type is Property Crime (57.5% of all incidents). This is followed by Assault at 38.1%. The crime rate in Saraland, AL is relatively low, with violent crimes being more common than property crimes. This suggests Saraland, AL is generally a safe area for residents and visitors.
Market predictions for Saraland, AL show an upward trend in home prices, with values increasing by 5.3%. This indicates a moderate but notable price trend. The current median home price in Saraland, AL is approximately $228,727.94. Based on current trends, home prices in Saraland, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Saraland, AL features 2 investment hotspots with varying levels of activity. The average nightly rate of $139 suggests an affordable market for travelers. The average rating of 3.9/5 indicates moderate guest satisfaction. With an average hotspot score of 0.69, these areas show good investment opportunities. With only 10 hotels, this represents an emerging market with potential for growth.
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