According to the Baldwin Realtors, May condominium sales decreased 13.5% year-over-year from 119 to 103 closed transactions. Following seasonal trends, sales decreased 5.5% from April. Sales are down 18.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: May listings (1,298) decreased 1.9% from April and increased 18.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 12.6 months, up from 12.1 in April and up from 9.2 months in May 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 May was $570,000, a decrease of 5.0% from one year ago and an increased of 28.1% from April. 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 May averaged 124 days on the market (DOM), 47 days slower than one year ago.
Forecast: May sales were 24 units, or 19.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 126 sales for the month, while actual sales were 102 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.
