ALABAMA REAL ESTATE JOURNAL

Baldwin County home sales rebound in June 2020

Sales: According to the Baldwin Realtors, June residential sales increased 31.4% year-over-year from 672 to 883 closed transactions. Following seasonal trends but to a greater degree, sales increased 60.8% from May. Total residential sales in the area are up 3% year-to-date. Two more resources to view: Quarterly Report and Annual Report.

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

Inventory: Total homes listed for sale in June declined 22.5% year-over-year from 2,899 to 2,248 listings. Months of supply (inventory to sales ratio) decreased from 4.3 to 2.5, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County median sales price in June was $252,853, a decrease of 2.5% from one year ago and an increase of 2.5% from May. 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.

Homes sold in June averaged 82 days on the market (DOM), 1 day faster than June 2019.

Forecast: June sales were 41 units, or 4.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 842 sales for the month, while actual sales were 883 units. ACRE forecast a total of 4,243 residential sales in the year-to-date, while there were 3,626 actual sales through June, a difference of 14.5%.

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.

Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period June 1 – 30, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the upcoming impact of COVID-19 on the housing market. 

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