According to the Baldwin Realtors, April residential sales decreased 0.2% year-over-year from 582 to 581 closed transactions. Contrary to seasonal trends, sales decreased 6.6% from March. Sales are down 5.0% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: April listings (3,167) increased 1.1% from March and 59.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.5 months, up from 5.0 months in March and up from 3.4 months in April 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 April was $354,112, a decrease of 8.0% from one year ago and an increase of 2.8% 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 63 days on the market (DOM), 1 day faster than April 2023.
Forecast: April sales were 80 units, or 12.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 661 sales for the month, while actual sales were 581 units. ACRE forecast a total of 2,270 home sales in the area year-to-date, while there were 2,079 actual sales through April, a difference of 8.4%.
New Construction: The 122 new homes sold represent 21.0% of all residential sales in April. Total sales decreased 38.4% year-over-year. The median sales price for new home sales was $354,112, a decrease of 8.0% from one year ago and an increase of 2.7% 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.
