Baldwin County condo sales average 24 days on market in July
Topics: Residential Real Estate
Markets: Baldwin County - Condo Only
Sales: According to the Baldwin Realtors, July condominium sales decreased 9.36% year-over-year from 235 to 213 closed transactions. Going with seasonal trends, sales decreased 7% from June. Sales are now up 50% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Baldwin County’s condominium data, click here.
Inventory: Total condos listed for sale in July declined 32.9% year-over-year from 498 to 334 listings. Months of supply decreased from 2.1 to 1.6, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County condo median sales price in July was $389,000, an increase of 5.14% from one year ago and a decrease of 12% 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.
Condos sold in July averaged 24 days on the market (DOM) a record low, and 67 days faster than one year ago.
Forecast: July sales were 34 units, or 19.15%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 179 sales for the month, while actual sales were 213 units.
Click here to view the entire monthly report.
The Baldwin County Condominium 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 the time period July 1 - 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.