Baldwin County Median Condo Sales Price Up 23 Percent From A Year Ago

By ACRE Research

Sales: According to the Baldwin County Association of Realtors Multiple Listing Service, Baldwin County condo sales, which include condos along the Gulf Coast, totaled 139 units during June, down 23.2 percent from 181 sales in the same month a year earlier. June sales were down 9.2 percent compared to 153 sales in May. Results were 8.7 percent below the five-year June average of 152 sales. Two more resources to review: Quarterly Report and Annual Report.

For all of Baldwin County’s condo sales data, click here.

Inventory: Baldwin County condo inventory totaled 702 units, an increase of 1.2 percent from June 2017’s 694 units, but a decrease of 7 percent from May 2018’s 755 units. Baldwin County condos also experienced an increase in months of supply in June. June months of supply totaled 5.1 months, an increase of 31.7 percent from June 2017’s 3.8 months of supply. Similarly, June’s months of supply increased slightly from May’s 4.9 months of supply.Pricing: The Baldwin County condo median sales price in June was $337,000, an increase of 23.4 percent from one year ago and an increase of 8.7 percent from the prior month. This direction is consistent with historical data (2013-17) indicating that the June median sales price on average increases from May by 2.5 percent. 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. The average number of days on the market (DOM) for condos sold during June was 92 days, a decrease of 39.1 percent from 151 days in June 2017 and a decrease of 13.2 percent from 106 days in May.

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