According to the Baldwin Realtors, July condominium sales increased 18.8% year-over-year from 96 to 114 closed transactions. Contrary to seasonal trends, sales decreased 2.6% from June. Sales are down 8.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: July listings (1,261) decreased 0.2% from June and increased 14.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 11.1 months, up from 10.8 in June and up from 11.5 months in July 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 July was $529,000, a slight decrease of 0.2% from one year ago and a decrease of 17.3% from June. 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 July averaged 73 days on the market (DOM), 36 days faster than one year ago.
Forecast: July sales were 3 units, or 2.8%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 117 sales for the month, while actual sales were 114 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.
