According to the Baldwin Realtors, February residential sales decreased 5.5% year-over-year from 451 to 426 closed transactions. Following seasonal trends, sales increased 1.2% from January. Sales are down 3.3% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: February listings (3,221) didn’t change from January and increased 13.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 7.6 months, down from 7.7 months in January and up from 6.3 months in February 2024. 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 February was $336,099, a decrease of 7.4% from one year ago and a decrease of 4.0% from January. 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 February averaged 94 days on the market (DOM), 28 days slower than February 2024.
Forecast: February sales were 36 units, or 7.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 462 sales for the month, while actual sales were 426 units.
New Construction: The 95 new homes sold represent 22.3% of all residential sales in February. Total sales decreased 7.8% year-over-year. The median sales price for new home sales was $336,099, a decrease of 7.4% from one year ago and a decrease of 1.0% from January.
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.
