Tuscumbia's real estate market is experiencing a price correction, with values down 12.8% from last year. Home prices have decreased 15.8% in the past month. With 39 active listings, inventory is 95% higher than seasonal norms. Homes are taking about 55 days to sell, which is -8 days longer than this time last year. A significant 33.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 15.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Tuscumbia market with the affordability index at 182.7. Based on current market indicators, home prices in Tuscumbia are projected to increase by approximately 3.5% over the next month.
Tuscumbia, AL has a total population of 8,534 residents. The area is predominantly White (63.9%), African American residents comprise 25.1% of the community. The area shows moderate demographic diversity. The small population size creates an intimate community atmosphere in Tuscumbia, AL.
Crime analysis for Tuscumbia, AL shows 15 total incidents across all categories. The most prevalent crime type is Assault (73.3% of all incidents). This is followed by Property Crime at 26.7%. The crime rate in Tuscumbia, AL is very low, with violent crimes being more common than property crimes. This suggests Tuscumbia, AL is generally a safe area for residents and visitors.
Market predictions for Tuscumbia, AL show an upward trend in home prices, with values increasing by 3.7%. This suggests a gradual price adjustment in the market. The current median home price in Tuscumbia, AL is approximately $220,004.199. The stable price trend suggests a balanced market in Tuscumbia, AL, suitable for both buyers and sellers.
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