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Sales: According to the Baldwin County Association of Realtors Multiple Listing Service, Baldwin County condo sales, which include condos along the Gulf Coast, totaled 126 units during November. Year-to-date sales were 9.8 percent higher (1,439 units) than the same time last year (1,310 units). Sales increased 32.6 percent during November over the same time last year.

Gulf Coast condo sales up 27 percent over October’s numbers during November.

Forecast: November sales were 36 units, or 40 percent, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through November projected 1,236 closed transactions while the actual sales were 1,439 units, representing a cumulative increase of 15.4 percent.

Supply: Baldwin County condo inventory totaled 941 units, a decrease of 7.8 percent, or 80 units, from November 2014. The inventory also decreased by 5 percent from the prior month. This direction is consistent with historical data indicating that November inventory on average (2010-14) decreases from October by 1.9 percent. Condo inventory during November peaked in 2010 at 1,458 units. The inventory is now down 35.5 percent from the peak. during November, the condo supply stood at 7.5 months, up from 10 the previous month and 10.7 during November 2014.

Demand: Condo sales increased 27 percent from the prior month. This direction contrasts with seasonal buying patterns and historical data trends that reflect November condo sales on average (2010-14) decrease from October by 17 percent.

Pricing: The Baldwin County condo median sales price in November was $230,000, an increase of 1.3 percent from last November. The median sales price decreased 6.1 percent from the prior month. This direction is consistent with historic data trends (2010-14) that reflect the November median condo sales price on average decreases from October by 5.8 percent. The median condo sales price remains well higher (53 percent) than its lowest November price of $150,000 established in November 2010.

The average sales price for Gulf Coast condos during November was $278,609.

On average, condos sold during November on the Gulf Coast spent 160 days on the market.

Total units listed for sale dipped to 941 during November.

The median sales price is up 1.3 percent during November compared to last year.

Months of supply (7.5) trending in a positive direction for Gulf Coast condo sales.

Year-to-date condo sales rose 9 percent over the same period last year during November.

Condo sales rose 33 percent over last November this year.

Bryan Davis is the research/media coordinator for the Alabama Center for Real Estate housed within the Culverhouse College of Commerce at the University of Alabama. He can be reached at 205-348-5416 or at bkdavis@culverhouse.ua.edu. Baldwin County Condo Monthly Report is work product developed in conjunction with the Baldwin County Association of Realtors to better serve both local and worldwide consumers interested in the sandy white beaches along Alabama’s treasured gulf coast. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current available condo data. Real estate is local and statistics will fluctuate between areas along the gulf coast including specific condo properties. ACRE recommends that you consult a local real estate professional for “specific” advice associated with the condo market in Baldwin County. The Alabama Center for Real Estate‘s core purpose is to advance the real estate industry in Alabama by providing relevant resources in the areas of research, education and outreach.