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Foley Alabama Area Real Estate Market Continues To Show A Healthy Increase
The real estate market in the Foley area continues to remain positive with a healthy and steady growth.
Numbers from the Foley single-family housing market showed positive increases across the board over the first eight months of this year.
The Foley single-family market includes homes in Foley, Summerdale, Silverhill, Robertsdale, Elberta, Bon Secour, Magnolia Springs and Lillian.
Through August 31, the numbers are as follows;
725 homes were sold, up from 621 sold during the same period last year — an increase of 17% year-to-year.
The average sale price of homes on the market rose from $151,308 in 2014 to $165,176 in 2015 — a 9% increase.
The median sale price also rose year-over-year from $138,000 last year to $145,985 this year — a 6% increase.
While homes sold for an average price of $80 per-square-foot during the first eight months of 2014, that number rose to $88 per-square-foot during the same period this year — a 10% increase.
There were 162 homes under contract or pending in the region on Sept. 1 this year, compared with 124 at this time last year showing that demand for single family housing continues to be strong.
While the market typically dips a little bit after the summer break, we're seeing a continued interest and project that values will continue to show signs of positive growth through the last quarter of 2015.
Curious as to what your home is worth right now? Take a moment to find your home's value instantly by clicking HERE and see if it's "time to move"!
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