Sales: According to the Baldwin Realtors, April condominium sales increased 225.3% year-over-year from 79 to 257 closed transactions. Going against seasonal trends, sales decreased 12.3% from March. Sales are now up 80.4% 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 April declined 68.9% year-over-year from 745 to 232 listings. Months of supply decreased from 9.4 to 0.9, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County condo median sales price in April was $400,000, an increase of 35.6% from one year ago and a decrease of 15.3% from March. 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 April averaged 44 days on the market (DOM), a record low and 30 days faster than one year ago.
Forecast: April sales were 257 units, or 53.11%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 168 sales for the month, while actual sales were 257 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 April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.
