Sales: According to the Baldwin Realtors, November residential sales increased 6.2% year-over-year from 537 to 570 closed transactions. Following seasonal trends, sales decreased 26.7% from October. Total sales in the area 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 November declined 44.7% year-over-year from 2,738 to 1,514 listings. Months of supply (inventory to sales ratio) decreased from 5.1 to 2.7, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in November was $267,000, an increase of 5.5% from one year ago and an increase of 3.8% from October. 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 November averaged 66 days on the market (DOM), 13 days faster than November 2019.
Forecast: November sales were 22 units, or 3.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 592 sales for the month, while actual sales were 570 units. ACRE forecast a total of 7,782 residential sales in the year-to-date, while there were 7,329 actual sales through November, a difference of 5.8%.
New Construction: The 146 new homes sold represent 25.6% of all residential sales in the area in November. Total sales increased 19.7% year-over-year. The median sales price for new home sales was $252,782, a decrease of 1.7% from October and an increase of 4.8% from one year ago.
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 November 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.