Sales: According to the Baldwin Realtors, September residential sales decreased 2.9% year-over-year from 625 to 607 closed transactions. Following seasonal trends, sales decreased 28.9% from August, and total sales in the area are now up 9.2% year-to-date. 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 September declined 43.4% year-over-year from 2,918 to 1,653 listings. Months of supply (inventory to sales ratio) decreased from 4.7 months to 2.7, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in September was $253,950, an increase of 5.2% from one year ago and a decrease of 9.3% from August. 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 September averaged 73 days on the market (DOM), selling four days faster than in September 2019.
Forecast: September sales were 78 units, or 11.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 685 sales for the month, while actual sales were 607 units. ACRE forecast a total of 6,517 residential sales year-to-date, while there were 5,981 actual sales through September, a difference of 8.2%.
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 Sept. 1-30. 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.