Is Mount Meigs, 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, Mount Meigs was a Neutral Market.
Key Takeaway
Mount Meigs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mount Meigs, AL
How much do homes in Mount Meigs, AL cost?
Median Sold Price
$305,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Meigs have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Mount Meigs was $305,000 in May 2024, up 2.5% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $125.5K | - | N/A |
| 3 Bedrooms | $273K | $279K | +2.2% |
| 4 Bedrooms | $324.9K | $340.3K | +4.8% |
| 5+ Bedrooms | $320K | - | N/A |
Summary: Mount Meigs 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 did not change, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Mount Meigs | $297.5K | $305K | +2.5% |
| Montgomery | $174.4K | $175K | 0.3% |
Housing Supply in Mount Meigs, AL
How many homes are available in Mount Meigs, AL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 41 | +13.9% |
Summary: The Mount Meigs real estate market had 41 homes for sale in May 2024, a 13.9% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mount Meigs 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 increased by 100%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Meigs, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Mount Meigs in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Mount Meigs, AL
How long does it take to sell a home in Mount Meigs, AL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 29 Days | -27.2% |
Summary: Homes in Mount Meigs had an average of 29 days on market in May 2024, down by 27.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mount Meigs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Mount Meigs; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing Information Copyright 2024 Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS®, Inc. All rights reserved. Information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. The information being provided is for consumers personal, non-commercial use and will not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this web site comes in part from the IDX Program of the Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS® Inc. Real estate listings held by brokerage firms other than this broker are governed by MLS Rules and Regulations and detailed information about them includes the name of the listing companies. 