Sales: According to the Baldwin Realtors, June residential sales decreased 25.7% year-over-year (Y/Y) from 1,063 (record high in June 2021) to 790 closed transactions. Going against seasonal trends, sales decreased 7.2% from May. Sales are down 0.4% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: June listings (1,660) increased 24.0% from May and increased 50.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.1 months, up from 1.6 months in May and up from 1.0 months in June 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-5 months of supply.
Pricing: The Baldwin County median sales price in June was $341,525, an increase of 12.2% from one year ago and a decrease of 0.4% 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.
Homes sold in June averaged 22 days on the market (DOM) 14 days faster than June 2021.
Forecast: June sales were 162 units, or 17.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 952 sales for the month, while actual sales were 790 units. ACRE forecast a total of 4,863 residential sales year-to-date, while there were 4,870 actual sales through June, a difference of 0.1%.
New Construction: The 156 new homes sold represent 19.7% of all residential sales in June. Total sales increased 22.4% year-over-year. The median sales price for new home sales was $341,525, an increase of 30.3% from one year ago and a decrease of 0.4% from May.
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.
