February condo sales in Baldwin County up significantly from one year ago

Sales: According to the Baldwin Realtors, February condominium sales increased 32.5% year-over-year from 114 to 151 closed transactions. Following seasonal trends, sales increased 36% from January. 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 February declined 64.7% year-over-year from 618 to 218 listings. Months of supply decreased from 5.4 to 1.4, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County condo median sales price in February was $390,000, a decrease of 13.1% from one year ago and a decrease of 2.7% from January. 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 February averaged 51 days on the market (DOM), 44 days faster than one year ago.

Forecast: February sales were 24 units, or 18.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 127 sales for the month, while actual sales were 151 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 February 1 – 28, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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