The housing market in Springville continues to see strong price appreciation, with values up 10.1% compared to last year. Home prices have increased 28.8% in the past month alone. With 6.0 months of supply, Springville's inventory levels remain relatively tight. Homes are now taking an average of 175 days to sell, significantly longer than the 61 days typical for this market. A significant 27.8% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 11.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Springville market with the affordability index at 725.7. Based on current market indicators, home prices in Springville are projected to decrease by approximately 12.1% over the next month.
Springville, AL has a total population of 4,370 residents. The area is predominantly White (92.8%), The African American population is 7.2%. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Springville, AL.
Crime analysis for Springville, AL shows 35 total incidents across all categories. The most prevalent crime type is Property Crime (74.3% of all incidents). This is followed by Assault at 25.7%. The crime rate in Springville, AL is very low, with violent crimes being more common than property crimes. This suggests Springville, AL is generally a safe area for residents and visitors.
Market predictions for Springville, AL show an upward trend in home prices, with values increasing by 8.0%. This indicates a moderate but notable price trend. The current median home price in Springville, AL is approximately $360,644.17. Based on current trends, home prices in Springville, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
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