According to the Baldwin Realtors, April condominium sales decreased 12.1% year-over-year from 124 to 109 closed transactions. Following seasonal trends, sales increased 16.0% from March. Sales are down 20.2% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: April listings (1,323) increased 2.3% from March and increased 25.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 12.1 months, down from 13.8 in March and up from 8.5 months in April 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 April was $445,000, a decrease of 17.2% from one year ago and a decrease of 9.6% from March. 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 April averaged 132 days on the market (DOM), 54 days slower than one year ago.
Forecast: April sales were 20 units, or 15.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 129 sales for the month, while actual sales were 109 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.
