According to the Baldwin Realtors, November residential sales increased 7.4% year-over-year from 418 to 449 closed transactions. Contrary to seasonal trends, sales decreased 19.0% from October. Sales are down 5.8% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: November listings (3,260) decreased 2.5% from October and increased 26.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 7.3 months, up from 6.0 months in October and up from 6.2 months in November 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-6 months of supply.
Pricing: The Baldwin County median sales price in November was $338,808, a decrease of 3.2% from one year ago and a decrease of 3.2% from October. 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 November averaged 125 days on the market (DOM), 59 days slower than November 2023.
Forecast: November sales were 91 units, or 16.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 540 sales for the month, while actual sales were 449 units. ACRE forecasts a total of 6,955 home sales in the area year-to-date, while there were 6,149 actual sales through November, a difference of 11.6%.
New Construction: The 95 new homes sold represent 21.2% of all residential sales in November. Total sales decreased 20.2% year-over-year. The median sales price for new home sales was $338,808, a decrease of 3.2% from one year ago and an increase of 1.3% from October.
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.
