Sales: According to the Baldwin Realtors, June residential sales increased 20.4% year-over-year (Y/Y) from 883 to 1,063 closed transactions, marking eight consecutive months of Y/Y gains. Following seasonal trends, sales increased 27.6% from May. Sales are now up 35.4% 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 June declined 51.1% year-over-year from 2,248 to 1,100 listings. Months of supply (inventory to sales ratio) decreased from 2.2 months to 1 month, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County median sales price in June was $304,400, an increase of 20.4% from one year ago and an increase of 10.7% from May. 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 June averaged 36 days on the market (DOM), a record low and 46 days fewer than in June 2020.
Forecast: June sales were 221 units, or 26.25%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 842 sales for the month, while actual sales were 1,063 units. ACRE forecast a total of 4,355 residential sales year-to-date, while there were 4,909 actual sales through June, a difference of 12.7%.
New construction: The 201 new homes sold represent 18.9% of all residential sales in June. Total sales decreased 12.2% year-over-year. The median sales price for new home sales was $262,200, an increase of 3.7% from one year ago and a decrease of 0.4% from May.
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.