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, December residential sales in Baldwin County totaled 467 units, up 16 percent from the previous December. Sales for 2016  through December were 6.5 percent above 2015 sales. Two more resources to review: Quarterly Report and Annual Report.

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

December home sales in Baldwin County rose 16 percent over last December.

Forecast: December results were 72 units or 18 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s 2016 sales forecast through December projected 5,139 closed transactions, while the actual sales were 5,571 units, a favorable difference of 8 percent.

Supply: The Baldwin County housing inventory in December was 2,519 units, a decrease of 7.4 percent from December 2015. The area’s housing inventory has declined by 56 percent from the December peak in 2006 (5,668 units). There were 5.4 months of housing supply in December (with 6 months considered equilibrium for December) vs. 6.8 months of supply in December 2015. The inventory-to-sales ratio rose 20 percent from November.

Demand: Baldwin County residential sales increased 16.5 percent from November. This direction is consistent with local historical data indicating that December sales, on average (2011-15), increase from November by 14 percent.

Existing single-family home sales accounted for 52 percent of total sales (down from 60 percent in December 2015), while 26 percent were new home sales (down from 30 percent) and 22 percent were condo sales (up from 10 percent).

Pricing: The Baldwin County median sales price in December was $234,000, an increase of 12 percent from December 2015 ($208,200). The median sales price increased 0.5 percent from the prior month. This direction is consistent with historical data that indicate on average (2011-15) the December median sales price increases from November by 5.5 percent. ACRE highly recommends consulting with a real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Industry perspective: “The tenor of our forecast effectively remains unchanged: signs of cautious consumers this quarter, rising interest rates, the renewed increase in the U.S. dollar to a 14-year high, and heightened uncertainty in the political sphere suggest conservatism in our outlook,” said Fannie Mae Chief Economist Doug Duncan. “While we are encouraged that confidence is rising across investors, consumers, businesses, economists and homebuilders, much of it appears to be in anticipation that the forthcoming Administration and the new Congress will enact fiscal policies and deregulation that will help spur growth. While we believe that some pro-growth policies could be adopted next year, it would take time for them to benefit the economy, barring any offsetting initiatives such as more restrictive trade policies.”

Click here to generate more graphs from the Baldwin County December Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply. 

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