Sales: According to the Baldwin Realtors, December residential sales increased 20.1% year-over-year (Y/Y) from 708 to 850 closed transactions. Following seasonal trends, sales increased 22.5% from November. Sales are now up 21.3% 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 December declined 15.3% year-over-year from 1,337 to 1,133 active listings. At the current sales pace, all the active inventory on the market would sell in 1.3 months, down from 1.8 months in November and down from 1.9 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 median sales price in December was $329,000, an increase of 32.5% from one year ago and an increase of 8.2% 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.
Homes sold in December averaged 36 days on the market (DOM) 33 days faster than December 2020.
Forecast: December sales were 154 units, or 22.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 696 sales for the month, while actual sales were 850 units. ACRE forecast a total of 8,755 residential sales year-to-date, while there were 9,750 actual sales through December, a difference of 11.4%.
New Construction: The 198 new homes sold represent 23.3% of all residential sales in December. Total sales increased 20.7% year-over-year. The median sales price for new home sales was $311,244, an increase of 9.4% from one year ago and an increase of 3.3% from November.
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 December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.