According to the Baldwin Realtors, March condominium sales decreased 16.8% year-over-year from 113 to 94 closed transactions. Following seasonal trends, sales increased 59.3% from February. Sales are down 23.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: March listings (1,293) increased 10.8% from February and increased 26.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 13.8 months, down from 19.8 in February and up from 9.0 months in March 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The Baldwin County condo median sales price in March was $492,500, a decrease of 1.3% from one year ago and a decrease of 5.3% from February. 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.
Condos sold in March averaged 99 days on the market (DOM), 7 days slower than one year ago.
Forecast: March sales were 43 units, or 31.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 137 sales for the month, while actual sales were 94 units.
Click here to view the entire monthly report.
The Baldwin County Condominium Monthly Report is developed in conjunction with the Baldwin Realtors to better serve Gulf Coast consumers.
