Sales: According to the Baldwin Realtors, December residential sales increased 14.8% year-over-year from 617 to 708 closed transactions. Following seasonal trends, sales increased 24.2% from November. Total sales in the area are now up 11.1% 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 December declined 49.1% year-over-year from 2,626 to 1,337 listings. Months of supply (inventory to sales ratio) decreased from 4.3 to 1.9, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in December was $249,000, an increase of 1.6% from one year ago and a decrease of 6.7% from November. 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 December averaged 69 days on the market (DOM), 12 days faster than December 2019.
Forecast: December sales were 62 units, or 9.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 646 sales for the month, while actual sales were 708 units. ACRE forecast a total of 8,428 residential sales in the year-to-date, while there were 8,037 actual sales through December, a difference of 4.6%.
New Construction: The 164 new homes sold represent 23.2% of all residential sales in the area in December. Total sales increased 18.8% year-over-year. The median sales price for new home sales was $284,440, an increase of 20.1% from one year ago and an increase of 12.5% from November.
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 December 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.