Sales: According to the Baldwin Realtors, October residential sales increased 29% year-over-year from 603 to 778 closed transactions. Sales increased 28.2% from September, and total sales in the area are now up 11.2% 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 October declined 42.6% year-over-year from 2,823 to 1,621 listings. Months of supply (inventory to sales ratio) decreased from 4.7 to 2.1, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in October was $257,210, an increase of 2.9% from one year ago and an increase of 1.3% from September. 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 October averaged 71 days on the market (DOM), 15 days faster than October 2019.
Forecast: October sales were 105 units, or 15.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 673 sales for the month, while actual sales were 778 units. ACRE forecast a total of 7,190 residential sales in the year-to-date, while there were 6,759 actual sales through October, a difference of 6%.
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 October 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.
