If you’re thinking about buying a home in Alabama, that could end up being a wise decision. The state is beautiful, and the nature around you is perfect for walking and cycling. You’ll also find friendly neighbors in some of the smaller towns if that lifestyle appeals to you.
Let’s discuss some takeaways from the Alabama housing market if you have your eye on it now.
There Are New Homes Available
You can always purchase an older home in Alabama. If you do, though, the house you buy is liable to come with more problems you need to correct.
However, you can also find new homes in Auburn, AL. These ones were just built, so they have all the modern amenities you’re probably looking for. These houses are probably going to be a lot closer to turn-key ready.
The Market is a Little Cheaper Than the National Average
The Alabama housing market is also a little cheaper than the national average if you look at the state as a whole. Of course, whether you can get a good deal or not will also depend to some extent on the town or city you’re targeting. Some will be cheaper or more expensive than others, depending on how desirable they are.
It Is a Seller’s Market Right Now
It is also appropriate to say that the state is a seller’s market right now. A couple of years ago, it was the opposite, but the market has had a turnaround in the past year-and-a-half or so.
That means you’ll need to look harder to get a great deal if you’re in the market. Be ready to get into potential budding wars for some of the most attractive properties.
Buyers Are No Longer Waiving the Home Inspection
A couple of years ago, houses were so much in demand and there were so many potential buyers that some of them were willing to waive a home inspection before putting in a bid. That is no longer the case, though.
Some Buyers Are Basing Their Search on The Quality of Local Schools
Some home sellers in Alabama are also finding that they are getting higher bids for their homes if they are in neighborhoods with more desirable schools. While that is often a significant factor with families looking for homes, such properties are seemingly more in demand than ever.
The Median Home Price is Under $300K
You should also note that the median home price in Alabama is still under $300,000. That makes this a relatively reasonable place to find a home compared to several other US states. However, you must also contend with a job market that isn’t the most robust.
You See More Sellers Dropping Prices
Despite it being a seller’s market, we’re at the time of year when some individuals are willing to drop the price of their listing. That’s because winter is not far off, and that’s traditionally a time when it is harder to attract as many serious potential buyers.
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