Sales: According to the Baldwin Realtors, December condominium sales increased 4.8% year-over-year from 146 to 153 closed transactions. Sales increased 66.3% from November, and are now up 6.8% 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 December declined 80.2% year-over-year from 636 to 126 listings. Months of supply decreased from 4.4 to 0.8, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County condo median sales price in December was $398,000, an increase of 8.7% from one year ago and an increase of 0.7% 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.
Condos sold in December averaged 72 days on the market (DOM), 44 days faster than one year ago.
Forecast: December sales were 5 units, or 3.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 148 sales for the month, while actual sales were 153 units. ACRE forecast a total of 1,860 condo sales year-to-date, while there were 1,703 actual sales through December, a difference of 8.4%.
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 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.
