Sales: According to the Baldwin Realtors, April residential sales decreased 5.2% year-over-year (Y/Y) from 849 to 805 closed transactions. Following seasonal trends, sales decreased 18.3% from March. Sales are now up 4.5% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: April listings (1,048) increased 23.7% from March and increased 14.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.3 months, up from 0.9 in March and up from 1.1 months in April 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 April was $339,950, an increase of 21.2% from one year ago and a decrease of 2.8% from March. 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 April averaged 31 days on the market (DOM) 15 days faster than April 2021.
Forecast: April sales were 19 units, or 2.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 786 sales for the month, while actual sales were 805 units. ACRE forecast a total of 3,089 residential sales year-to-date, while there were 3,229 actual sales through April, a difference of 4.5%.
New Construction: The 132 new homes sold represent 16.4% of all residential sales in April. Total sales decreased 7.0% year-over-year. The median sales price for new home sales was $311,052, an increase of 14.8% from one year ago and a decrease of 2.0% from March.
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.
