Is Spanish Fort, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Spanish Fort has remained a Seller's Market.
Key Takeaway
Spanish Fort is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spanish Fort, AL
How much do homes in Spanish Fort, AL cost?
Median Sold Price
$375,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Spanish Fort have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Spanish Fort was $375,000 in May 2024, up 11.1% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $208K | $209.7K | +0.8% |
| 3 Bedrooms | $283K | $314.9K | +11.3% |
| 4 Bedrooms | $359.8K | $396.8K | +10.3% |
| 5+ Bedrooms | $523.8K | $565K | +7.9% |
Summary: Spanish Fort housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in Spanish Fort, AL
How many homes are available in Spanish Fort, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 90 | 98 | +8.9% |
Summary: The Spanish Fort real estate market had 98 homes for sale in May 2024, a 8.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 39 | 42 | +7.7% |
| 4 Bedrooms | 36 | 36 | 0.0% |
| 5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Spanish Fort housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 25 | +127.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spanish Fort, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Spanish Fort in May 2024, up by 127.3% month-over-month. Of the 22 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Spanish Fort, AL
We’re sorry, we don't have information for this market at the moment
Listing information Copyright © 2024 Baldwin County Association of REALTORS®, Inc. All rights reserved. MLS IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.