ALABAMA REAL ESTATE JOURNAL

Baldwin County condo sales remain elevated in December

Sales: According to the Baldwin Realtors, December condominium sales increased 36.6% year-over-year (Y/Y) from 153 to 209 closed transactions, marking four consecutive months of Y/Y gains. Following seasonal trends, sales increased 29.8% from November. Sales are now up 39.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.  

For all of Baldwin County’s condominium data, click here.

Inventory: December listings (229) decreased 26.6% from November and increased 81.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.1 months, down from 1.9 in November and up from 0.8 months in December 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply. 

Pricing: The Baldwin County condo median sales price in December  was $530,000, an increase of 33.2% from one year ago and an increase of 6.2% from November. 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 November averaged 46 days on the market (DOM), 26 days faster than one year ago. 

Forecast: December sales were 75 units, or 55.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 134 sales for the month, while actual sales were 209 units. ACRE forecast a total of 1,790 condo sales year-to-date while there were 2,379 actual sales through December, a difference of 32.9%.  

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 December  1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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