The housing market in Selma continues to see strong price appreciation, with values up 25.7% compared to last year. Home prices have increased 456.9% in the past month alone. At the current sales pace, it would take over 11.0 months to sell all available homes in Selma, indicating an oversupplied market. Homes are now taking an average of 79 days to sell, significantly longer than the 42 days typical for this market. A significant 25.8% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 16.7% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Selma market with the affordability index at 27.0. Based on current market indicators, home prices in Selma are projected to decrease by approximately 11.4% over the next month.
Selma, AL has a total population of 18,120 residents. African American residents comprise 81.8% of the community. The area has a more homogeneous population distribution. As a smaller community, Selma, AL offers a close-knit residential environment.
Crime analysis for Selma, AL shows 62 total incidents across all categories. The most prevalent crime type is Assault (61.3% of all incidents). This is followed by Property Crime at 32.3%. The crime rate in Selma, AL is very low, with violent crimes being more common than property crimes. This suggests Selma, AL is generally a safe area for residents and visitors.
Market predictions for Selma, AL show an upward trend in home prices, with values increasing by 4.7%. This suggests a gradual price adjustment in the market. The current median home price in Selma, AL is approximately $94,698.781. The stable price trend suggests a balanced market in Selma, AL, suitable for both buyers and sellers.
Selma, AL features 1 investment hotspots with varying levels of activity. With an average nightly rate of $160, the market offers mid-range pricing opportunities. The average rating of 3.2/5 suggests room for improvement in guest experience. With an average hotspot score of 0.76, these areas show good investment opportunities. With only 8 hotels, this represents an emerging market with potential for growth.
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