Living in Florence, AL
Florence, AL is a picturesque city known for its rich history and vibrant community life. The city is situated along the Tennessee River and offers many recreational activities, parks, and cultural events. With strong educational institutions and a friendly atmosphere, Florence is an ideal place for families and individuals alike.
Current Market Conditions in Florence, AL
The real estate market in Florence, AL is showing signs of stability and growth. As of late 2023, home prices have remained relatively consistent with a modest increase in demand. The area's appeal due to its scenic beauty and community amenities is attracting buyers, particularly families looking for affordable housing options in a welcoming environment.
Currently, there is a balanced market, with homes selling in a timely manner, often within a few weeks. Inventory is lower than desired, which is contributing to the upward pressure on prices, yet the affordability remains a key factor that draws potential homeowners to the area.
Home Value Estimator For Florence, AL
There are currently 21,843 real estate properties
in Florence, AL,
with a median automated valuation model (AVM) price
of $209,400.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Florence, AL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Florence, AL,
is $253,655.00, with the most expensive house
in Florence, AL, topping out
at $9,322,921.00 and the cheapest home
in Florence, AL,
clocking in at $10,088.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Florence, AL!
Rent Prices
In Florence, AL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Florence, AL, is on
a rollercoaster ride. The
average rent price in Florence, AL,
is $1,053.00. Indeed, when looking to rent in
Florence, AL, you can expect to pay as little
as $400.00 or as much
as $2,380.00,
with the average rent median estimated to
be $1,030.00. The good news is that finding
an affordable and desirable property to rent in Florence, AL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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