According to the Baldwin Realtors, July residential sales increased 5.9% year-over-year from 615 to 651 closed transactions. Following seasonal trends, sales decreased 3.6% from June. Sales are down 5.1% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: July listings (3,223) increased 3.0% from June and increased 48.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.0 months, up from 4.6 months in June and up from 3.5 months in July 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 July was $357,500, an increase of 2.2% from one year ago and a decrease of 2.1% from June. 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 July averaged 78 days on the market (DOM), 23 days slower than July 2023.
Forecast: July sales were 68 units, or 9.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 719 sales for the month, while actual sales were 651 units. ACRE forecasts a total of 4,494 home sales in the area year-to-date, while there were 4,047 actual sales through July, a difference of 9.9%.
New Construction: The 153 new homes sold represent 23.5% of all residential sales in July. Total sales increased 1.3% year-over-year. The median sales price for new home sales was $338,333, a decrease of 0.5% from one year ago and a decrease of 4.9% from June.
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.
