According to the Baldwin Realtors, January residential sales decreased 0.2% year-over-year (Y/Y) from 426 to 425 closed transactions. Following seasonal trends, sales decreased 1.4% from December. Sales are down 0.2% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: January listings (2,741) increased 11.5% from December and increased 50.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.4 months, up from 5.7 months in December and up from 4.3 months in January 2023. 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 $349,386, a decrease of 0.3% from one year ago and a decrease of 3.6% 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 67 days on the market (DOM), 8 days slower than January 2023.
Forecast: January sales were 8 units, or 1.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 433 sales for the month, while actual sales were 425 units. ACRE forecast a total of 433 sales in the area year-to-date, while there were 425 actual sales through January, a difference of 1.8%.
New Construction: The 108 new homes sold represent 25.4% of all residential sales in January. Total sales decreased 4.9% year-over-year. The median sales price for new home sales was $349,386, a decrease of 0.3% from one year ago and a decrease of 3.6% 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.
