Baldwin County condo sales rise sharply in July

Baldwin County condo sales rise sharply in July
The median sales price for Baldwin County condos in July was up 59 percent from a year earlier. (iStock)

Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: According to the Baldwin County Association of Realtors Multiple Listing Service, Baldwin County condo sales, which include condos along the Gulf Coast, totaled 207 units during July, a 38.9 percent increase from July 2016’s 149 units.

For all of Baldwin County’s condo sales data, click here.

Forecast: July sales were 50 units or 31.8 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s 2017 sales forecast through July projected 1,025 closed transactions. Actual sales were 1,175 units.

Supply: Baldwin County condo inventory totaled 746 units, a decrease of 22.3 percent from July 2016. The inventory was up 7.5 percent from the prior month. Historical patterns indicate that July inventory on average (2012-16) increases 1.3 percent from June. Condo inventory during July peaked in 2011 at 1,246 units. The inventory is down 40 percent from that peak. During July, the condo supply stood at 3.6 months, down from 6.4 months during July 2016.

Demand: Condo sales increased 14.4 percent from June. Seasonal buying patterns and historical data trends reflect July condo sales on average (2012-16) decrease from June by 13.8 percent.

Pricing: The Baldwin County condo median sales price in July was $405,000, up 58.8 percent from last July. The median sales price increased 48.4 percent from the prior month.

The Baldwin County Condo Monthly Report is developed in conjunction with the Baldwin County Association of Realtors to better serve both local and worldwide consumers interested in the beaches along Alabama’s Gulf Coast.

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