According to the Baldwin Realtors, January condominium sales decreased 13.6% year-over-year (Y/Y) from 103 to 89 closed transactions. Similar to seasonal trends, sales decreased 4.3% from December. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: January listings (875) increased 9.4% from December and increased 92.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 9.8 months, up from 8.6 in December and up from 4.4 months in January 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The Baldwin County condo median sales price in January was $529,000, a decrease of 0.2% from one year ago and a decrease of 17.3% 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.
Condos sold in January averaged 76 days on the market (DOM), 15 days slower than one year ago.
Forecast: January sales were 10 units, or 3.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 261 sales for the month, while actual sales were 251 units.
Click here to view the entire monthly report.
The Baldwin County Condominium Monthly Report is developed in conjunction with the Baldwin Realtors to better serve Gulf Coast consumers.
