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, April residential sales in Baldwin County totaled 490 units, down 0.2 percent from last April. Year-to-date sales are 0.9 percent or 15 units above the same period last year. Two more resources to review: Quarterly Report and Annual Report.

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

Forecast: April results were 25 units or 5 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through April projected 1,586 closed transactions, while the actual sales were 1,645 units, a favorable difference of 3.7 percent.

Year-to-date home sales in Baldwin County have risen 0.9 percent in April compared to the same period a year ago.

Supply: The Baldwin County housing inventory in April was 2,881 units, a decrease of 6.6 percent from April 2015. The area’s housing inventory has declined by 55 percent from the April peak in 2007 (6,422 units). There was 5.9 months of housing supply in April (with 6 months considered equilibrium for April) vs. 6.3 months of supply in April 2015. This is down from March’s 6.2 months of supply.

Demand: Baldwin County residential sales increased 5.8 percent from March. This direction is consistent with local historical data indicating that April sales, on average (2011-15), increase from March by 5.3 percent.

Existing single-family home sales accounted for 57 percent (unchanged from April 2015) of total sales, while 9 percent (unchanged from April 2015) were new home sales and 33 percent (unchanged from April 2015) were condo sales.

Pricing: The Baldwin County median sales price in April was $220,000, an increase of 0.5 percent from last April ($219,000). The median sales price increased 14 percent from the prior month. The data are consistent with historical data that indicate on average (2011-15) the April median sales price increases from March by 5.8 percent. ACRE highly recommends consulting with a real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Industry perspective: “We can partially attribute the sizable gain in April in home-selling optimism both to a correction for last month’s unexpected dip and to typical seasonal strength in housing activity in the spring and summer,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Even after accounting for these factors, continued tight housing supply has led to renewed strength in home price appreciation, making selling a home a more attractive prospect this year in particular. This improved sentiment could provide an extra boost of much-needed supply for the spring selling season.” For the entire report, click here.

The average sales price for homes sold in Baldwin County during April was $257,223.

On average, homes sold in Baldwin County during April spent 169 days on the market.

There were 2,881 units listed for sale during April in Baldwin County.

The median sales price for homes sold in Baldwin County during April was $220,000.

There were 5.9 months of supply on the market in April in Baldwin County.

Home sales rose 5.8 percent compared to March during April in Baldwin County.

There were 490 units sold in Baldwin County during April.

The Baldwin County Residential Monthly Report is developed in conjunction with the Baldwin County Association of Realtors to better serve gulf coast consumers.