Sales: According to the Baldwin Realtors, May condominium sales increased 107.5% year-over-year from 94 to 195 closed transactions. Going against seasonal trends, sales decreased 24.2% from April. Sales are now up 22.77% 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 May declined 62.7% year-over-year from 652 to 243 listings. Months of supply decreased from 6.9 to 1.2, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Baldwin County condo median sales price in May was $429,000, an increase of 15.7% from one year ago and a decrease of 7.4% from April. 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 May averaged 40 days on the market (DOM) a record low, and 23 days faster than one year ago.
Forecast: May sales were 195 units, or 6.59%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 183 sales for the month, while actual sales were 195 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 May 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.
