September condo sales in Baldwin County decline from one year ago

Sales: According to the Baldwin Realtors, September condominium sales decreased 9.6% year-over-year from 136 to 123 closed transactions. Sales decreased 44.6% from August, and are now up 10% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

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

Inventory: Total condos listed for sale in September declined 41.9% year-over-year from 735 to 427 listings. Months of supply decreased from 5.4 to 3.5, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County condo median sales price in September was $345,000, a decrease of 6.6% from one year ago and a decrease of 2.8% 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.

Condos sold in September averaged 72 days on the market (DOM), 11 days faster than one year ago.

Forecast: September sales were 20 units, or 14%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 143 sales for the month, while actual sales were 123 units. ACRE forecast a total of 1,437 condo sales year-to-date, while there were 1,311 actual sales through September, a difference of 8.8%.

Click here to view the entire monthly report.

The Baldwin County Condominium 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.

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