ALABAMA REAL ESTATE JOURNAL

Baldwin County home sales continue to rise in January

Sales: According to the Baldwin Realtors, January residential sales increased 18.2% year-over-year from 457 to 540 closed transactions. Following seasonal trends, sales decreased 23.7% from December. 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 January declined 56.4% year-over-year from 2,576 to 1,123 listings. Months of supply (inventory to sales ratio) decreased from 5.6 to 2.1, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County median sales price in January was $242,500, a decrease of 6.7% from one year ago and a decrease of 2.6% from December. 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 January averaged 62 days on the market (DOM), 29 days faster than January 2020.

Forecast: January sales were 24 units, or 4.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 564 sales for the month, while actual sales were 540 units.

New Construction: The 114 new homes sold represent 21.1% of all residential sales in January. Total sales increased 8.6% year-over-year. The median sales price for new home sales was $250,100, an increase of 1.7% from one year ago and a decrease of 12.1% from December.

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 January 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.

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