Sales: According to the Baldwin Realtors, December residential sales decreased 43.3% year-over-year (Y/Y) from 850 to 482 closed transactions. Sales decreased 2.6% from November. Sales are down 13.0% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: December listings (1,822) decreased 4.8% from November and increased 60.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.8 months, down from 3.9 months in November and up from 1.3 months in December 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 December was $383,680, an increase of 16.3% from one year ago and an increase of 4.7% from November. 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 December averaged 47 days on the market (DOM), 11 days faster than December 2021.
Forecast: December sales were 234 units, or 32.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 716 sales for the month, while actual sales were 482 units. ACRE forecast a total of 9,136 residential sales year-to-date, while there were 8,484 actual sales through December, a difference of 7.1%.
New Construction: The 148 new homes sold represent 30.7% of all residential sales in December. Total sales decreased 25.3% year-over-year. The median sales price for new home sales was $383,680, an increase of 23.3% from one year ago and an increase of 4.7% from November.
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.