Baldwin County Condo Sales In March Nearly Double From February

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 179 units during March, up 18.5 percent from 151 sales in the same month a year earlier. March sales were up 92.5 percent compared to 93 sales in February. Results were 19.8 percent above the five-year average of 149 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 760 units in March, an increase of 0.7 percent from March 2018’s 755 units and an increase of 2.8 percent from February 2019’s 739 units. March months of supply totaled 4.2 months, down 15.1 percent from March 2018’s 5 months of supply. March’s months of supply decreased 46.6 percent from February’s 7.9 months of supply.Pricing: The Baldwin County condo median sales price in March was $395,000, an increase of 25.4 percent from one year ago and an increase of 5.3 percent from the prior month. This direction is consistent with historical data (2014-18) indicating that the March median sales price on average increases from January by 1.3 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 March was 85 days, a decrease of 5.6 percent from 90 days in March 2018 and constant with 85 days in February.

Please visit Alabama News Center for the Full Article

Tags: exp15

Category: ALL POSTS, Partner News Stories