The housing market in Sylacauga continues to see strong price appreciation, with values up 31.3% compared to last year. Home prices have increased 72.1% in the past month alone. With 7.0 months of supply, Sylacauga's inventory levels remain relatively tight. Properties are selling within just 36 days on average, much faster than the historical norm of 81 days. A significant 26.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 42.9% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Sylacauga market with the affordability index at 101.8. Based on current market indicators, home prices in Sylacauga are projected to increase by approximately 16.6% over the next month.
Sylacauga, AL has a total population of 12,261 residents. The area is predominantly White (65.3%), African American residents comprise 29.2% of the community. The area shows moderate demographic diversity. As a smaller community, Sylacauga, AL offers a close-knit residential environment.
Crime analysis for Sylacauga, AL shows 118 total incidents across all categories. The most prevalent crime type is Assault (48.3% of all incidents). This is followed by Property Crime at 44.9%. The crime rate in Sylacauga, AL is relatively low, with violent crimes being more common than property crimes. This suggests Sylacauga, AL is generally a safe area for residents and visitors.
Market predictions for Sylacauga, AL show a downward trend in home prices, with values decreasing by 9.2%. This indicates a moderate but notable price trend. The current median home price in Sylacauga, AL is approximately $208,593.708. The declining trend suggests this may be a buyer's market, with potential opportunities for those looking to purchase property in Sylacauga, AL.
Sylacauga, AL features 1 investment hotspots with varying levels of activity. The low average nightly rate of $77 indicates a budget-friendly market. The average rating of 3.9/5 indicates moderate guest satisfaction. With an average hotspot score of 0.64, these areas show good investment opportunities. With only 3 hotels, this represents an emerging market with potential for growth.
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