According to the Baldwin Realtors, August condominium sales increased 25.8% year-over-year from 97 to 122 closed transactions. Contrary to seasonal trends, sales increased 7.0% from July. Sales are down 4.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: August listings (1,207) decreased 4.3% from July and increased 9.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 9.9 months, down from 11.1 in July and down from 11.3 months in August 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 August was $507,500, a decrease of 11.0% from one year ago and a decrease of 4.1% from July. 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 August averaged 97 days on the market (DOM), 9 days faster than one year ago.
Forecast: August sales were 9 units, or 8.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 113 sales for the month, while actual sales were 122 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.
