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, June residential sales in Baldwin County totaled 569 units, up 9 percent from last June. Year-to-date sales are 1.4 percent or 37 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. 

Baldwin County residential sales increased 9 percent during June over the June 2015 pace.

Forecast: June results were 63 units or 12 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through June projected 2,614 closed transactions, while the actual sales were 2,703 units, a favorable difference of 3 percent.

Supply: The Baldwin County housing inventory in June was 2,886 units, a decrease of 7 percent from June 2015. The area’s housing inventory has declined by 55 percent from the June  peak in 2007 (6,336 units). There was 5.1 months of housing supply in June (with 6 months considered equilibrium for June) vs. 5.9 months of supply in June 2015. This is down from May’s 6 months of supply.

Demand: Baldwin County residential sales increased 16.4 percent from May. This direction contrasts with local historical data indicating that June sales, on average (2011-15), decrease from May by 10.3 percent.

Existing single-family home sales accounted for 61 percent of total sales (down from 63 percent during June 2015), while 11 percent (up from 8 percent during June 2015) were new home sales and 27 percent (unchanged from June 2015) were condo sales.

Pricing: The Baldwin County median sales price in June was $221,500, a decrease of 2.8 percent from last June ($227,950). The median sales price increased 2.7 percent from the prior month. The data contrasts with historical data that indicate on average (2011-15) the June median sales price decreases from May by 1.4 percent. ACRE highly recommends consulting with a real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Industry perspective: “Housing activity is gaining strength heading into the summer, with pending home sales rising to a decade high. In addition, new home sales surged to an expansion best, a positive for single-family homebuilding, especially since only a small share of new homes for sale are completed and ready to occupy,” said Fannie Mae Chief Economist Doug Duncan in the organization’s June Economic Outlook. “However, recent pullbacks in construction hiring, likely due to a shortage of skilled workers, could weigh on the outlook for the sector. With little improvement in the current housing supply picture so far, we expect only moderate housing expansion this year.” For the full report, click here.

The average sales price for homes sold in Baldwin County during June was $276,029.

On average, homes sold in Baldwin County during June spent 141 days on the market.

Year-to-date home sales in June in Baldwin County rose 1.4 percent compared to last year.

There were 2,886 homes listed for sale in Baldwin County during June.

The median sales price for homes sold in Baldwin County during June was $221,500.

There were 5.1 months of supply on the market in June in Baldwin County.

There were 569 homes sold in Baldwin County during June.

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