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February 2024 Alabama Gulf Coast Real Estate Stats
Alabama's Gulf Coast contains several real estate markets depending on location and price point—just to name a few factors. The graphic below shows real estate statistics for February 2024, the latest month available.
Vital Signs provides a visual representation of what's happening in several local markets by showing you supply. The colored-coded numbers represent the absorption rate, the number of months it would take to sell every home on the market in a particular price range if no others were added. If the market is moving quickly, the absorption rate will fall below six months of supply, and if it's more of a buyer's market, it will jump above six months of supply.
The rate is determined by dividing the number of units currently on the market by the number sold in the past month. February 2024 continued to show a buyer's market for Mobile County primarily, depending on the price range. If you are looking to sell, you will still want to look in Baldwin County. However, depending on the specific location in the county, the seller hotspots are becoming limited since the beginning of the year. For updated information for your specific neighborhood, as some are still experiencing low supply in certain price points, contact your Bellator agent today.
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