Sales: According to the Baldwin Realtors, January residential sales decreased 36.2% year-over-year (Y/Y) from 668 to 426 closed transactions. Following seasonal trends, sales decreased 11.6% from December. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: January listings (1,819) decreased 0.2% from December and increased 111.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.3 months, up from 3.8 months in December and up from 1.3 months in January 2022. 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 January was $350,492, an increase of 10.5% from one year ago and a decrease of 8.7% from December. 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 January averaged 59 days on the market (DOM), 18 days slower than January 2022.
Forecast: January sales were 25 units, or 5.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 451 sales for the month, while actual sales were 426 units.
New Construction: The 103 new homes sold represent 24.2% of all residential sales in January. Total sales decreased 18.3% year-over-year. The median sales price for new home sales was $350,492, an increase of 10.5% from one year ago and a decrease of 8.6% from December.
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.
