ALABAMA REAL ESTATE JOURNAL

Baldwin County condo sales increase again in June

Sales: According to the Baldwin Realtors, June condominium sales increased 22.5% year-over-year from 187 to 229 closed transactions marking seven consecutive months of Y/Y gains. Going with seasonal trends, sales increased 17.44% from May. Sales are now up 69.1% 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 June declined 46.4% year-over-year from 537 to 288 listings. Months of supply decreased from 2.9 to 1.3, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County condo median sales price in June was $442,000, an increase of 34.6% from one year ago and a decrease of 2.9% 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.

Condos sold in June averaged 41 days on the market (DOM), and 45 days faster than one year ago.

Forecast: June sales were 57 units, or 33.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 172 sales for the month, while actual sales were 229 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 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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