ALABAMA REAL ESTATE JOURNAL

Baldwin County home sales pass the 1,000 mark for the first time in June

Sales: According to the Baldwin Realtors, June residential sales increased 20.4 year-over-year (Y/Y) from 883 to 1063 closed transactions, marking eight consecutive months of Y/Y gains. Following seasonal trends, sales increased 27.6% from May. Sales are now up 35.4% 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 June declined 51.1% year-over-year from 2,248 to 1,100 listings. Months of supply (inventory to sales ratio) decreased from 2.2 to 1.0, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County median sales price in June was $304,400, an increase of 20.4% from one year ago and an increase of 10.7% from May. 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 June averaged 36 days on the market (DOM) a record low, and 46 days faster than June 2020.

Forecast: June sales were 221 units, or 26.25%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 842 sales for the month, while actual sales were 1063 units. ACRE forecast a total of 4,355 residential sales year-to-date, while there were 4,909 actual sales through June, a difference of 12.7%.

New Construction: The 201 new homes sold represent 18.9% of all residential sales in June. Total sales decreased 12.2% year-over-year. The median sales price for new home sales was $262,200, an increase of 3.7% from one year ago and a decrease of 0.4% from May.

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 June 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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