Vance's real estate market is experiencing a price correction, with values down 5.1% from last year. The median home price in Vance currently stands at $279,900. At the current pace, all available homes in Vance would sell out in just 1.1 months, indicating a continued supply shortage. Homes are now taking an average of 143 days to sell, significantly longer than the 28 days typical for this market. A significant 75.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Vance market with the affordability index at 1788.5. Based on current market indicators, home prices in Vance are projected to decrease by approximately 3.9% over the next month.
Vance, AL has a total population of 1,486 residents. The area is predominantly White (82.0%), African American residents comprise 15.5% of the community. The area has a more homogeneous population distribution. The small population size creates an intimate community atmosphere in Vance, AL.
Crime analysis for Vance, AL shows 6 total incidents across all categories. The most prevalent crime type is Assault (66.7% of all incidents). This is followed by Property Crime at 33.3%. The crime rate in Vance, AL is very low, with violent crimes being more common than property crimes. This suggests Vance, AL is generally a safe area for residents and visitors.
Market predictions for Vance, AL show an upward trend in home prices, with values increasing by 6.7%. This indicates a moderate but notable price trend. The current median home price in Vance, AL is approximately $287,043.756. Based on current trends, home prices in Vance, AL are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Investment hotspot data for Vance, AL is currently unavailable.
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