Sales: According to the Baldwin Realtors, November residential sales decreased 28.7% year-over-year from 694 to 495 closed transactions. Sales decreased 5.2% from October and are down 10.1% year-to-date. Two more resources to view: Quarterly Report and Annual Report.

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

Inventory: November listings (1,913) increased 0.5% from October and 49.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.9 months, up from 3.6 months in October and 1.8 months in November 2021. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-5 months of supply.

Pricing: The Baldwin County median sales price in November was $366,503, an increase of 20.2% from one year ago and 8.7% from October. 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 November averaged 47 days on the market, selling 13 days faster than in November 2021.

Forecast: November sales were 121 units, or 19.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 616 sales for the month, while actual sales were 495 units. ACRE forecast a total of 8,420 residential sales year-to-date, while there were 8,002 actual sales through November, a difference of 3.8%.

New construction: The 124 new homes sold represent 25.1% of all residential sales in November. Total sales increased 3.3% year-over-year. The median sales price for new home sales was $366,503, an increase of 21.6% from one year ago and a decrease of 8.7% from October.

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.