Sales: According to the Baldwin Realtors, April residential sales increased 67.5% year-over-year (Y/Y) from 507 to 849 closed transactions, marking seven consecutive months of Y/Y gains. Following seasonal trends, sales decreased 11.9% from March. Sales are now up 37.3% year-to-date. 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 April declined 64.3% year-over-year from 2,575 to 919 listings, a record low. Months of supply (inventory to sales ratio) decreased from 5.1 to 1.1, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in April was $280,500, an increase of 11% from one year ago and a decrease of 4.7% 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.
Homes sold in April averaged 46 days on the market (DOM), also a record low and 41 days faster than April 2020.
Forecast: April sales were 94 units, or 12.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 755 sales for the month, while actual sales were 849 units. ACRE forecast a total of 2,698 residential sales year-to-date, while there were 3,013 actual sales through April, a difference of 11.7%.
New Construction: The 142 new homes sold represent 16.7% of all residential sales in April. Total sales increased 4.4% year-over-year. The median sales price for new home sales was $270,969, an increase of 7.2% from one year ago and an increase of 8.9% from March.
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 April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.