Baldwin County condo sales down in April, sales prices up

Baldwin County condo sales down in April, sales prices up
The median sales price for Baldwin condos in April was $295,000, up 7.5 percent from last April. (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 147 units during April, a 9 percent decrease from April 2016’s 162 units.

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

Forecast: April sales were 19 units or 11 percent below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s 2017 sales forecast through April projected 527 closed transactions. Actual sales were 598 units.

Supply: Baldwin County condo inventory totaled 723 units, a decrease of 21 percent from April 2016. The inventory was down 4 percent from the prior month. Historical patterns indicate that April inventory on average (2012-16) increases 0.6 percent from March. Condo inventory during April peaked in 2011 at 1,300 units. The inventory is down 44 percent from that peak. During April, the condo supply stood at 4.9 months, down from 5.7 months during April 2016.

Demand: Condo sales declined 32 percent from March. Seasonal buying patterns and historical data trends reflect April condo sales on average (2012-16) increase from March by 10.6 percent.

Pricing: The Baldwin County condo median sales price in April was $295,000, up 7.5 percent from last April. The median sales price increased 6 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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