According to the Baldwin Realtors, May residential sales increased 9.4% year-over-year from 642 to 702 closed transactions. Following seasonal trends, sales increased 2.5% from April. Sales are up 3.4% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: May listings (3,759) increased 0.5% from April and increased 19.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.4 months, down from 5.5 months in April and up from 4.9 months in May 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 May was $364,950, a decrease of 3.5% from one year ago and a slight decrease of 0.1% from April. 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 May averaged 89 days on the market (DOM), 20 days slower than May 2024.
Forecast: May sales were 22 units, or 3.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 680 sales for the month, while actual sales were 702 units.
New Construction: The 161 new homes sold represent 23.0% of all residential sales in May. Total sales increased 41.2% year-over-year. The median sales price for new home sales was $341,170, a decrease of 5.5% from one year ago and an increase of 2.5% from April.
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.
