Baldwin County Homes Selling Faster In March Compared To One Year Ago

By ACRE Research

Sales: According to the Baldwin County Association of Realtors/Multiple Listing Service, Baldwin County residential sales totaled 631 units during March, down 0.6 percent from 635 sales in the same month a year earlier. March sales were up 37.7 percent compared to 472 sales in February. Results were 21.6 percent above the five-year March average of 519 sales. Two more resources to review: Quarterly Report and Annual Report.

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

Inventory: Total homes listed for sale in the Baldwin County area during March were 2,979 units, a decrease of 0.3 percent from March’s 2018’s 2,987 units and an increase of 3.7 percent from February 2019’s 2,872 units. March’s months of supply totaled 4.7 months, equal to March 2018’s month’s of supply. March’s month of supply decreased 22.4 percent when compared to February 2019’s 6.1 months of supply. February’s months of supply decreased 23.4 percent from January 2019’s 7.9 months.Pricing: The Baldwin County median sales price in March was $247,500, an increase of 5.8 percent from one year ago and an increase of 4.3 percent from the prior month. This direction is inconsistent with historical data (2014-18) indicating that the March median sales price on average decreases from February by 1.6 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 homes sold during March was 87 days, a decrease of 13.9 percent from 101 days in March 2019 and a decrease of 9.4 percent from 96 days in February 2019.

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