Is Grand Bay, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Grand Bay was a Seller's Market.
Key Takeaway
Grand Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Grand Bay, AL
How much do homes in Grand Bay, AL cost?
Median Sold Price
$274,200
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grand Bay have sold for 14.3% less than they did a year ago.
Summary: The median home sold price in Grand Bay was $274,200 in May 2024, down 14.3% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $81.3K | $130.5K | +60.5% |
| 3 Bedrooms | $243K | $245K | +0.8% |
| 4 Bedrooms | $349.4K | $348.4K | -0.3% |
| 5+ Bedrooms | $567.5K | $543K | -4.3% |
Summary: Grand Bay 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 60.5%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Theodore | $233.5K | $240K | +2.8% |
| Tanner Williams | $255K | $255K | 0.0% |
| Grand Bay | $320K | $274.2K | -14.3% |
Housing Supply in Grand Bay, AL
How many homes are available in Grand Bay, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 103 | +41.1% |
Summary: The Grand Bay real estate market had 103 homes for sale in May 2024, a 41.1% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 29 | 44 | +51.7% |
| 4 Bedrooms | 38 | 50 | +31.6% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Grand Bay 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 51.7%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Bay, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Grand Bay in May 2024, down by 12.5% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for Grand Bay, AL
We’re sorry, we don't have information for this market at the moment
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The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of the Greater Alabama Multiple Listing Service, Inc. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the content is not guaranteed accurate by the MLS. There is no express or implied warranty by MLS of the accuracy of information which should be independently verified. The Greater Alabama Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Copyright© 2024 Greater Alabama Multiple Listing Service, Inc. All Rights Reserved.