Semmes's real estate market is experiencing a price correction, with values down 8.7% from last year. Home prices have decreased 15.1% in the past month. With 29 active listings, inventory is 81% higher than seasonal norms. Homes are taking about 30 days to sell, which is -16 days longer than this time last year. Approximately 25.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Semmes market with the affordability index at 260.6. Based on current market indicators, home prices in Semmes are projected to increase by approximately 5.7% over the next month.
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