Alabama started 2024 with a total of 11,603 single-family homes on the market, with a median home price of $320,000 and an average price per square foot of $177.38. By the end of the year, inventory had increased to 15,436 homes on the market (+33%), with a median home price of $319,000 (0%), and an average price per square foot of $182 (+2%).
At the start of 2024, the median days on market (DOM) was 77 days – by the end of the year, median DOM had increased to 84 days.
Alabama started the year with 32.20% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 35.50% of homes for sale had taken a price cut.
