Top Mega Teams in Alabama – Ranked by Volume

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2023 Alabama Housing Market Summary

Alabama started 2023 with a total of 9,669 single-family homes on the market, with a median home price of $314,900 and an average price per square foot of $168. By the end of the year, inventory had increased to 11,844 homes on the market (+22%), with a median home price of $319,900 (+1%) and an average price per square foot of $189 (+12%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had increased to 77 days.

Alabama started the year with 34% 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 33% of Alabama homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Alabama started 2023 as a seller’s market, with an MAI score of 39; by the end of the year, the MAI had dropped to 29 – a buyer’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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