According to the Baldwin Realtors, September condominium sales decreased 26.7% year-over-year from 101 to 74 closed transactions. Following seasonal trends, sales decreased 23.7% from August. Sales are down 18.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: September listings (1,128) increased 2.5% from August and increased 32.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 15.2 months, up from 11.3 in August and up from 8.4 months in September 2023. 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 September was $418,000, a decrease of 21.9% from one year ago and a decrease of 26.7% from August. 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 September averaged 102 days on the market (DOM), 36 days slower than one year ago.
Forecast: September sales were 44 units, or 37.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 118 sales for the month, while actual sales were 74 units. ACRE forecasts a total of 1,249 home sales year-to-date, while there were 896 actual sales through September, a difference of 28.3%.
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.
