According to the Baldwin Realtors, June condominium sales decreased 29.5% year-over-year from 139 to 98 closed transactions. Contrary to seasonal trends, sales decreased 17.6% from May. Sales are down 17.3% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: June listings (1,097) increased 0.2% from May and increased 81.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 11.2 months, up from 9.2 in May and up from 4.4 months in June 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 June was $572,500, an increase of 12.3% from one year ago and a decrease of 4.6% from May. 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 June averaged 82 days on the market (DOM), 18 days slower than one year ago.
Forecast: June sales were 57 units, or 36.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 155 sales for the month, while actual sales were 98 units. ACRE forecast a total of 849 home sales year-to-date, while there were 629 actual sales through June, a difference of 25.9%.
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.
