The housing market in Scottsboro continues to see strong price appreciation, with values up 10.8% compared to last year. Home prices have decreased 6.5% in the past month. With 7.0 months of supply, Scottsboro's inventory levels remain relatively tight. Transaction volume is up 38% compared to what's typically expected this time of year. A significant 20.8% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Scottsboro market with the affordability index at 105.6. Current trends suggest further price adjustments may occur as the market continues to favor buyers.
Scottsboro, AL has a total population of 15,060 residents. The area is predominantly White (85.6%), The African American population is 5.1%. The area has a more homogeneous population distribution. As a smaller community, Scottsboro, AL offers a close-knit residential environment.
Market predictions for Scottsboro, AL show an upward trend in home prices, with values increasing by 7.5%. This indicates a moderate but notable price trend. The current median home price in Scottsboro, AL is approximately $244,555.719. Based on current trends, home prices in Scottsboro, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Scottsboro, AL features 1 investment hotspots with varying levels of activity. The low average nightly rate of $66 indicates a budget-friendly market. The average rating of 3.7/5 indicates moderate guest satisfaction. With an average hotspot score of 0.62, these areas show good investment opportunities. With only 3 hotels, this represents an emerging market with potential for growth.
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