Comprehensive market data and analysis
We're showing Alabama County statistics below to give you a broader market picture. As more transactions occur in Melvin, Alabama, we'll update with specific local data.
View nearby areas with more activity:
18.4 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M | ||
|---|---|---|---|---|---|---|
| No acreage data available for Melvin, Alabama | ||||||
The median price for land in the Alabama area is currently $25K per acre. For a typical parcel, the median sale price is $70K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $10K while premium lots reached $363K.
the Alabama area is currently a strong buyer's market with 18.4 months of supply. Buyers have more negotiating power and can take time to find the right property. Prices have decreased 4.9% year-over-year.
the Alabama area currently has 18.4 months of inventory supply. This indicates a strong buyer's market. High supply means buyers have plenty of choices and stronger negotiating position.
Land in the Alabama area typically sells within 151 days of listing. The median time on market is 74 days. Properties are moving slowly in the current strong buyer's market.
The 3-month absorption rate in the Alabama area is 5.4%. The 12-month rate is 6.3%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
Land in the Alabama area averages $240K per acre. The median price per acre is $25K, which may be more representative of typical transactions. Most parcels sold are around 1.6 acres.
There are currently 10,754 active listings in the Alabama area. 2,762 new listings have hit the market in the last 90 days. The median asking price is $95K.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
