According to the Baldwin Realtors, June residential sales decreased 14.7% year-over-year from 791 to 675 closed transactions. Following seasonal trends, sales increased 5.1% from May. Sales are down 6.9% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: June listings (3,128) decreased 0.4% from May and increased 48.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.6 months, down from 4.9 months in May and up from 2.7 months in June 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 June was $365,000, an increase of 2.6% from one year ago and a decrease of 3.4% 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.
Homes sold in June averaged 63 days on the market (DOM), 6 days slower than June 2023.
Forecast: June sales were 84 units, or 11.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 759 sales for the month, while actual sales were 675 units. ACRE forecasts a total of 3,775 home sales in the area year-to-date, while there were 3,396 actual sales through June, a difference of 10.0%.
New Construction: The 175 new homes sold represent 27.3% of all residential sales in June. Total sales decreased 28.0% year-over-year. The median sales price for new home sales was $355,850, a decrease of 0.1% from one year ago and a decrease of 1.5% from May.
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.
