According to the Baldwin Realtors, April condominium sales decreased 13.3% year-over-year from 143 to 124 closed transactions. Following seasonal trends, sales increased 9.7% from March. Sales are down 16.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: April listings (1,058) increased 3.5% from March and 108.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 8.5 months, down from 9.0 in March and up from 3.5 months in April 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 April was $537,500, an increase of 9.7% from one year ago but a decrease of 13.3% 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.
Condos sold in April averaged 78 days on the market (DOM), 15 days slower than one year ago.
Forecast: April sales were 30 units, or 19.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 154 sales for the month, while actual sales were 124 units. ACRE forecast a total of 543 home sales year-to-date, while there were 412 actual sales through April, a difference of 24.1%.
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.
