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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 120 units during December. Year-to-date sales were 10.7 percent higher (1,559 units) than the same time last year (1,408 units). Sales increased 22 percent during December over the same time last year.

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

Baldwin County December condo sales rose 22 percent over the same period the year prior.

Forecast: December sales were five units, or 4 percent, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through December projected 1,361 closed transactions while the actual sales were 1,559 units, representing a rise of 14.5 percent.

Supply: Baldwin County condo inventory totaled 901 units, a decrease of 6,4 percent, or 62 units, from December 2014. The inventory also decreased by 4 percent from the prior month. This direction is consistent with historical data indicating that December inventory on average (2010-14) decreases from November by 5.3 percent. Condo inventory during November peaked in 2010 at 1,329 units. The inventory is now down 32 percent from the peak. During December, the condo supply stood at 7.5 months, down from 9.8 during December 2014.

Demand: Condo sales decreased 5 percent from the prior month. This direction contrasts with seasonal buying patterns and historical data trends that reflect December condo sales on average (2010-14) increase from November by 17 percent.

Pricing: The Baldwin County condo median sales price in December was $271,250, an increase of 9 percent from last December. The median sales price increased 18 percent from the prior month. This direction is consistent with historic data trends (2010-14) that reflect the December median condo sales price on average increases from November by 12 percent. The median condo sales price remains well higher (46 percent) than its lowest December price of $185,000 established in December 2011.

The average sales price for a Baldwin County condo during December was $318,648.

The average condo sold in Baldwin County during December spent 192 days on the market.

Inventory is down favorably to 901 units during December.

The median sales price in Baldwin County during December for condos also increased to $230,000.

Months of supply is trending in a positive direction for Baldwin County condos during November, dropping to 7.5.

Year-to-date condo sales during December rose 11 percent over last year.

Condo sales during December rose 69 percent above the 2011 low of 71 units.

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.