Spanish Fort's real estate market is experiencing a price correction, with values down 9.3% from last year. Home prices have decreased 25.4% in the past month. With 4.1 months of supply, Spanish Fort's inventory levels remain relatively tight. Transaction volume is up 38% compared to what's typically expected this time of year. A significant 35.6% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 18.2% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Spanish Fort market with the affordability index at 341.1. Based on current market indicators, home prices in Spanish Fort are projected to decrease by approximately 24.0% over the next month.
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