Sales: According to the Baldwin Realtors, July residential sales increased 37.9% year-over-year from 649 to 895 closed transactions. Sales increased 1.4% from June and are now up 8.4% year-to-date. After declining year-over-year sales activity in April and May, sales rebounded in June and July. Two more resources to view: Quarterly Report and Annual Report.

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

Inventory: Total homes listed for sale in July declined 30.1% year-over-year from 2,875 to 2,011 listings. Months of supply (inventory to sales ratio) decreased from 4.4 months to 2.2, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The Baldwin County median sales price in July was $254,230, an increase of 1.7% from one year ago and an increase of 0.5% from June. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Homes sold in July averaged 82 days on the market (DOM), selling eight days faster than in July 2019.

Forecast: July sales were 102 units, or 12.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 793 sales for the month, while actual sales were 895 units. ACRE forecast a total of 5,036 residential sales in the year to date, while there were 4,521 actual sales through July, a difference of 10.2%.

New construction: The 144 new homes sold represent 25.6% of all residential sales in the area in July. Total sales increased 13.4% year-over-year. The median sales price in July was $254,230, an increase of 1.7% from June and an increase of 0.7% from one year ago.

Click here to view the entire monthly report.

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

Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for July 1-31, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market.