ALABAMA REAL ESTATE JOURNAL

Baldwin County Residential Sales up 13% in February 2020

Sales: According to the Baldwin Realtors, February residential sales increased 13.3% year-over-year from 472 to 535 closed transactions. Total residential sales increased by 17.1% from January. Results were 34.3% above the 5-year February average of 398 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 February declined 10.7% year-over-year from 2,872 to 2,565 listings. The market currently has 4.8 months of supply, down 21.1% from 6.1 months of supply in February 2019.

Pricing: The Baldwin County median sales price in February was $259,000, an increase of 9.2% from one year ago and a decrease of .4% from the prior month. Historical data indicates that February median sales prices on average (‘15-‘19) increase 3.1% from January. 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 February was 87 days, down 9.4% from 96 days one year ago and down 4.4% from 91 days in January 2020.

Forecast: February sales were 29 units, or 5.14%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 564 sales for the month, while actual sales were 535 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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