January condo sales in Baldwin County up 5% from one year ago

Sales: According to the Baldwin Realtors, January condominium sales increased 4.7% year-over-year from 106 to 111 closed transactions. Following seasonal trends, sales decreased 27.5% from December. 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 January declined 71.5% year-over-year from 613 to 175 listings. Months of supply decreased from 5.8 to 1.6, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County condo median sales price in January was $400,750, a decrease of 5.2% from one year ago and an increase of 0.7% 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.

Condos sold in January averaged 75 days on the market (DOM), 33 days faster than one year ago.

Forecast: January sales were 4 units, or 3.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 115 sales for the month, while actual sales were 111 units.

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 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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