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 162 units during April, a 10.2 percent increase from one year ago. Current sales results are 9.4 percent above the five-year March average of 148 condo sales. Two more resources to view: Quarterly Report and Annual Report.   

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

Forecast: March condo sales were 14 units or 9.4 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. Year-to-date, 527 Baldwin County condos have been sold, 8.4 percent above ACRE’s forecast of 486 condo sales through April.

Supply: Baldwin County condo inventory totaled 747 units in April, up from 723 units one year ago. Condo inventory decreased by 1.1 percent from the prior month. This decrease in inventory is relatively consistent with historical data from 2013-17 indicating that April inventory on average decreases .3 percent from March. Condo inventory during April peaked in 2009 at 2,445 units, and the current inventory is down 69.4 percent from that peak.

Demand: Baldwin County condo sales increased 7.3 percent from the previous month. This month-over-month sales increase is consistent with historical data indicating that April condo sales on average (2013-17) increase from March by 14.3 percent. Condos selling in April averaged 71 days on the market. This is a significant improvement from one year ago, when condos averaged 155 days on the market.

Seeking balance: The inventory of condos for sale divided by the current monthly sales volume equals the number of months of housing supply. The market is considered to be in balance at approximately 6 months of supply. During April the area had 4.6 months of condo supply, down from 5 months of supply last month and down from 4.9 months of supply one year ago.

Pricing: The Baldwin County condo median sales price in April was $358,750, up 21.6 percent from one year ago. The median sales price increased 13.9 percent from the prior month. This month-over-month price increase is somewhat consistent with historical data trends from 2013-17 indicating that the April median sales price on average increases 3.8 percent from March. ACRE highly recommends consulting with a real estate professional before making a purchase.

Industry perspective: Statewide, residential real estate sales continued to show growth during the first quarter of 2018 as they grew 2.4 percent from the first quarter of 2017. Low inventory levels, however, played a large role in driving prices upward. During the first quarter of the year, the statewide median sales price increased 7.1 percent from one year ago. Although good news for sellers, this price growth, combined with rising interest rates, could lead to affordability issues for buyers in today’s markets.

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.