ALABAMA REAL ESTATE JOURNAL

Baldwin County Begins 2020 with Significant Rise in Residential Sales

Sales: According to the Baldwin Realtors, January residential sales increased 28% year-over-year from 357 to 457 closed transactions. Following seasonal trends, sales decreased 25.9% from December. Results were 31.2% above the 5-year January average of 348 sales. Two more resources to review: Quarterly Report and Annual Report.

For all of Baldwin County’s housing data, click here.

Inventory: Total homes listed for sale in January declined 9.2% year-over-year from 2,836 to 2,576 listings. The market currently has 5.6 months of supply, down 29.5% from 7.9 months of supply in January 2019.

Pricing: The Baldwin County median sales price in January was $260,000, an increase of 4% from one year ago and an increase of 6.1% from the prior month. This direction is inconsistent with historical data (2015-2019) indicating that the January median sales price on average decreases from December by 3.3%. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood. The average number of days on the market (DOM) for homes sold during January was 91 days, down 1.1% from 92 days one year ago and up 12.3% from 81 days in December 2019.

Forecast: January sales were 39 units, or 7.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 496 sales for the month, while actual sales were 457 units.

Click here to view the entire monthly report.

The Baldwin County Residential Monthly Report is developed in conjunction with the Baldwin Realtors to better serve Gulf Coast consumers.

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