Market Report for Fairfield, AL
Despite what some might think Fairfield, AL is still a desirable place to live. Some might also assume that home values are decreasing, while in fact, there are some values that are proving to dispute that assumption and yet even with higher than expected prices; people still are buying and moving to Fairfield, Alabama. So let's go back to my original question:
Who Wants to Live in Fairfield, AL?
Well apparently at least 10 homebuyers want to live in Fairfield, Alabama. Let me be upfront and say that the following data does not include foreclosures, bank-owned properties or properties marketed as investment properties so the number of people wanting to live in Fairfield may be higher than presented here.
When foreclosures, bank-owned properties and properties marketed as investment properties are factored in, the total home sales escalate to 36 based on the same time period: February 1, 2018 through July 31, 2018. I'd say that's not too shabby. Even with investment properties, after being fixed up (if necessary) occupancy will increase and the fewer vacant homes in any neighborhood, the better.
What's on the Market Right Now?
While I won't provide a graph, at this time, like I did above for homes sales, I will tell you that as of today, currently there are 27 homes on the market in Fairfield ranging in price from $7,000 to $160,000. One of the reasons, I won't provide a chart right now is because I need to analyze it just a little more. You see some of the homes on the market have been on the market for well over 200 days which suggest to me that they are grossly overpriced. And to go a step further in case you are thinking about selling, it does not matter how much you owe on your house or your reason for wanting to sell, a home for sale that is overpriced, will remain a home for sale that is overpriced. For more on that, I think you might want to read my article titled: Is Your Listing Pretending to be For Sale? You see properly priced homes don't languish on the market and that's a fact.
Hopefully, I've given you a bit of insight into the Fairfield housing market. If you still have questions, I'm one of those Realtors® that always answers and responds in a timely manner.
If you're a Fairfield homeowner and you want a realistic assessment of the market value of your home, please reach out to me, your resident Fairfield real estate agent. I'd love to have your business, but one thing I won't do is sugarcoat the truth.