Sales: According to the Baldwin Realtors, January residential sales increased 23.7% year-over-year (Y/Y) from 668 to 540 closed transactions. Following seasonal trends, sales decreased 21.4% from December. Sales are now up 23.7% 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 January declined 23.5% year-over-year from 1,123 to 859 active listings. At the current sales pace, all the active inventory on the market would sell in 1.3 months, the same as in December and down from 2.1 months in January 2021. 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 January was $317,179, an increase of 30.8% from one year ago and a decrease of 3.9% from December. 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 January averaged 41 days on the market (DOM) 21 days faster than January 2021.
Forecast: January sales were 39units, or 2.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 649 sales for the month, while actual sales were 668 units. ACRE forecast a total of 649 residential sales year-to-date, while there were 668 actual sales through January, a difference of 2.9%.
New Construction: The 126 new homes sold represent 18.9% of all residential sales in January. Total sales increased 10.5% year-over-year. The median sales price for new home sales was $317,179, an increase of 26.8% from one year ago and an increase of 1.9% from December.
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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.