According to the Baldwin Realtors, June condominium sales increased 19.4% year-over-year from 98 to 117 closed transactions. Contrary to seasonal trends, sales increased 13.6% from May. Sales are down 12.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: June listings (1,264) decreased 2.6% from May and increased 15.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 10.8 months, down from 12.6 in May and up from 11.2 months in June 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 June was $640,000, an increase of 11.8% from one year ago and an increase of 12.3% from May. 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 June averaged 115 days on the market (DOM), 33 days slower than one year ago.
Forecast: June sales were 10 units, or 7.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 127 sales for the month, while actual sales were 117 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.
