Sales: According to the Baldwin Realtors, April residential sales increased 67.5% year-over-year (Y/Y) from 507 to 849 closed transactions, marking seven consecutive months of Y/Y gains. Following seasonal trends, sales decreased 11.9% from March. Sales are now up 37.3% 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 April declined 64.3% year-over-year from 2,575 to 919 listings, a record low. Months of supply (inventory to sales ratio) decreased from 5.1 months to 1.1, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in April was $280,500, an increase of 11% from one year ago and a decrease of 4.7% from March. 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 April averaged 46 days on the market (DOM), also a record low and selling 41 days faster than in April 2020.
Forecast: April sales were 94 units, or 12.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 755 sales for the month, while actual sales were 849 units. ACRE forecast 2,698 residential sales year-to-date, while there were 3,013 actual sales through April, a difference of 11.7%.
New construction: The 142 new homes sold represent 16.7% of all residential sales in April. Total sales increased 4.4% year-over-year. The median sales price for new homes was $270,969, an increase of 7.2% from one year ago and an increase of 8.9% from March.
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.