According to the Baldwin Realtors, March residential sales decreased 6.9% year-over-year from 622 to 579 closed transactions. Following seasonal trends, sales increased 35.9% from February. Sales are down 4.8% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: March listings (3,607) increased from February and increased 15.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.2 months, down from 7.6 months in February and up from 5.0 months in March 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 March was $380,000, an increase of 10.2% from one year ago and an increase of 13.1% 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.
Homes sold in March averaged 87 days on the market (DOM), 16 days slower than March 2024.
Forecast: March sales were 80 units, or 12.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 659 sales for the month, while actual sales were 579 units.
New Construction: The 134 new homes sold represent 23.1% of all residential sales in March. Total sales decreased 32.3% year-over-year. The median sales price for new home sales was $342,558, a decrease of 1.0% from one year ago and an increase of 2.0% from February.
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.
