Sales: According to the Baldwin Realtors, September residential sales decreased 2.9% year-over-year from 625 to 607 closed transactions. Following seasonal trends, sales decreased 28.9% from August, and total sales in the area are now up 9.2% 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 September declined 43.4% year-over-year from 2,918 to 1,653 listings. Months of supply (inventory to sales ratio) decreased from 4.7 to 2.7, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in September was $253,950, an increase of 5.2% from one year ago and a decrease of 9.3% from August. 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 September averaged 73 days on the market (DOM), 4 days faster than September 2019.
Forecast: September sales were 78 units, or 11.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 685 sales for the month, while actual sales were 607 units. ACRE forecast a total of 6,517 residential sales in the year-to-date, while there were 5,981 actual sales through September, a difference of 8.2%.
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 September 1 – 30, 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.
