Sales: According to the Baldwin Realtors, April residential sales decreased 27.7% year-over-year (Y/Y) from 805 to 582 closed transactions. Following seasonal trends, sales decreased 14.0% from March. Sales are down 33.2% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: April listings (1,982) increased 5.9% from March and increased 89.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.4 months, down from 2.8 months in March and up from 1.3 months in April 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The Baldwin County median sales price in April was $385,000, an increase of 13.3% from one year ago and an increase of 5.5% from March. 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 April averaged 64 days on the market (DOM), 33 days slower than April 2022.
Forecast: April sales were 582 units, or 3.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 644 sales for the month, while actual sales were 582 units. ACRE forecast a total of 2,314 sales in the area year-to-date, while there were 2,188 actual sales through April, a difference of 5.5%.
New Construction: The 127 new homes sold represent 21.8% of all residential sales in April. Total sales decreased 3.8% year-over-year. The median sales price for new home sales was $385,000, an increase of 23.8% from one year ago and an increase of 5.5% from March.
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.
