Sales: According to the Baldwin Realtors, August residential sales increased 25.3% year-over-year from 681 to 853 closed transactions. Sales decreased 4.7% from July, and are now up 10.8% 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 August declined 37.6% year-over-year from 2,879 to 1,796 listings. Months of supply (inventory to sales ratio) decreased from 4.2 to 2.1, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in August was $280,000, an increase of 14.3% from one year ago and an increase of 10.1% from July. 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 August averaged 84 days on the market (DOM), 3 days slower than August 2019.
Forecast: August sales were 57 units, or 7.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 796 sales for the month, while actual sales were 853 units. ACRE forecast a total of 5,832 residential sales in the year-to-date, while there were 5,374 actual sales through August, a difference of 7.9%.
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 August 1 – 31, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market.
