Market Update: 2021 for Elmore County and Montgomery County Alabama
Elmore County and Montgomery County Market Updates
2021 REAL ESTATE MARKET UPDATE STATS for Montgomery County and Elmore County Alabama. Prices are up, inventory is low, and the strong sellers market continues.
Elmore County Market Update
Elmore County data (pulled 1-5-2022 for 1-1-2021 through 1-31-2021) show 1348 homes sold in 2021 for an average price of $249,666. The price range of sold homes in Elmore County ranged from uder $50,000 to over $2,000,000, with most homes selling in the $160,000 to $350,000 range. In addition, only 38 homes, or less than 3% of sales, sold for more than $600,000. Just over 1000, nearly 75%, of the 1348 homes sold and closed within 60 days on the market. Also, the average time from listing to sold and closed in Elmore County was 51 days. There was less than a month supply of inventory based on the active listings at the end of December 2021. Because low supply is out of balance with high demand, Elmore County remains a strong sellers market.
Montgomery County Market Update
Similarly, Montgomery County data pulled for the same time period show 3818 homes sold and closed. The average home sold for $221,215 in Montgomery County in 2021. Sold prices ranged from under $50,000 to just over $1,500,000. Most homes in Montgomery sold in the range of $50,000 and under to up to approximately $600,000. Only 97 homes, or less than 3 percent of sales, sold for over $600,000. In Montgomery County, 68% of homes sold and closed within 60 days on the market. Also, the average time from listing to sold and closed in Montgomery County was 62 days. There was less than a month supply of inventory based on the active listings at the end of December 2021. Because low supply is out of balance with high demand, Montgomery County remains a strong sellers market.
These market trends appear to be continuing into 2022 –stay tuned for future market updates.
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