Elba, AL—36323

As of Aug '25, the median home price in Elba, AL is $121,000, with a year-over-year change of -1.4%. This indicates that home prices in Elba, AL are decreasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.

As of Aug '25 and according to Realtor.com, the median days on market for a home in Elba, AL is 63. This is an increase of 84.0% from last year. This indicates that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 38.0%. This is a large percentage of inventory, suggesting a lot of supply pressure on home prices.

According to the latest data from the U.S. Department of Housing and Urban Development (HUD) as of 2023, the number of mortgages originated in Elba, AL in that year was 116. 68.0% of all primary home loans were conventional, the remainder were government-backed loans, such as FHA loans. The average loan-to-value for all loans was 72.0%. Of those, 39.0% were >90% loan to value. This is considered very high, suggesting that mortgage risk is large in Elba, AL. Investor activity in Elba, AL is low, as 1.0% of all loans are originated by investors. In 2023, 14.0% of all loans were cash-out refinances, suggesting many homeowners are actively tapping their home's equity.