Baldwin County home sales down slightly in July
Topics: Residential Real Estate
Markets: Baldwin County - All
Sales: According to the Baldwin Realtors, July residential sales decreased 2.4 year-over-year (Y/Y) from 895 to 874 closed transactions. Not following seasonal trends, sales decreased 17.8% from June. Sales are now up 27.9% year-to-date. Two more resources to view: Quarterly Report and Annual Report.
For all of Baldwin County’s housing data, click here.
Inventory: July listings (1,249) increased 13.6% from June and declined 37.9% from one year ago. Months of supply (inventory to sales ratio) also decreased Y/Y from 2.2 to 1.4, reflecting a market where seller’s generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in July was $290,494, an increase of 14.26% from one year ago and a decrease of 4.6% 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 32 days on the market (DOM) a record low, and 50 days faster than July 2020.
Forecast: July sales were 39 units, or 4.67%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 835 sales for the month, while actual sales were 874 units. ACRE forecast a total of 5,190 residential sales year-to-date, while there were 5,783 actual sales through June, a difference of 11.4%.
New Construction: The 119 new homes sold represent 13.6% of all residential sales in June. Total sales decreased 17.4% year-over-year. The median sales price for new home sales was $290,494, an increase of 14.3% from one year ago and an increase of 10.8% from June.
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 the time period July 1 - 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.