Sales: According to the Baldwin Realtors, September residential sales decreased 19.9% year-over-year (Y/Y) from 874 to 700 closed transactions. Sales decreased 4.4% from August. Sales are down 6.8% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: September listings (1,837) decreased 1.8% from August and increased 29.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.6 months, the same as in August and up from 1.6 months in September 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 September was $339,701, an increase of 18.4% from one year ago and a decrease of 8.4% from August. 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 September averaged 23 days on the market (DOM), 0 days faster than September 2021.
Forecast: September sales were 14 units, or 2.0%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 686 sales for the month, while actual sales were 700 units. ACRE forecast a total of 7,137 residential sales year-to-date, while there were 6,985 actual sales through September, a difference of 2.1%.
New Construction: The 205 new homes sold represent 29.3% of all residential sales in September. Total sales increased 21.3% year-over-year. The median sales price for new home sales was $339,701, an increase of 22.5% from one year ago and a decrease of 8.4% from August.
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.
