According to the Baldwin Realtors, December residential sales increased 26.2% year-over-year from 431 to 544 closed transactions. Contrary to seasonal trends, sales increased 21.2% from November. Sales are down 3.8% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: December listings (3,070) decreased 5.8% from November and increased 24.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.6 months, down from 7.3 months in November and down from 5.7 months in December 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 December was $362,500, an increase of 0.1% from one year ago and an increase of 7.0% from November. 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 December averaged 83 days on the market (DOM), 23 days slower than December 2023.
Forecast: December sales were 6 units, or 1.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 560 sales for the month, while actual sales were 554 units. ACRE forecasts a total of 7,515 home sales in the area year-to-date, while there were 6,703 actual sales through December, a difference of 10.8%.
New Construction: The 137 new homes sold represent 25.2% of all residential sales in December. Total sales increased 19.1% year-over-year. The median sales price for new home sales was $336,740, a decrease of 7.1% from one year ago and a decrease of 0.6% from November.
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.
