Sales: According to the Baldwin Realtors, July residential sales decreased 21.9% year-over-year (Y/Y) from 874 to 683 closed transactions. Following seasonal trends, sales decreased 13.5% from June. Sales are down 2.1% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: July listings (1,798) increased 8.3% from June and increased 44.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.6 months, up from 2.1 months in June and up from 1.4 months in July 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 July was $331,000, an increase of 13.9% from one year ago and a decrease of 3.1% from June. 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 July averaged 22 days on the market (DOM), 10 days faster than July 2021.
Forecast: July sales were 125 units, or 15.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 808 sales for the month, while actual sales were 683 units. ACRE forecast a total of 5,671 residential sales year-to-date, while there were 5,553 actual sales through July, a difference of 2.1%.
New Construction: The 137 new homes sold represent 20.1% of all residential sales in July. Total sales increased 15.1% year-over-year. The median sales price for new home sales was $357,160, an increase of 22.9% from one year ago and an increase of 4.6% from June.
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.
