ROBERTSDALE, Ala. – Across almost every area of reporting, Baldwin County listing prices showed signs of decline last month. Baldwin REALTORS® Multiple Listing Service (MLS) reports a 0.5% decrease in average sales price for the Traditional Residential market last month, compared to May 2019, and a 6% year-over-year decrease in average sales price for the Resort/Island-based market. Additionally, after breaking down the areas of our county even further, only Coastal Condos and Northern Baldwin County saw an increase in average sales price from the previous month. With these dips in pricing and ongoing great interest rates, it makes one question if Baldwin County is entering into a new era of a buyers’ market.
While many of Baldwin County’s beach rental companies have fully recovered from the lag in business during the statewide shutdown, the Resort/Island-based housing market is slower to catch back up. In comparing May 2020 to May 2019, both average sales price and total number of closed sales saw significant decreases, and the average days on market increased. However, when comparing May 2020 to April 2020, glimmers of improvement can be found. The average sales price between April 2020 and last month still decreased, but only by 0.6%. Average days on market reduced from 101 in April to 85 last month –15.8% less time on the market. And the total number of properties sold increased by 10.8% from 120 in April to 133 this past month.
Baldwin County’s Traditional Residential housing market for last month also falls short when compared to 2019’s May. Along with the average sales price decreasing half a percent, the total number of properties sold decreased by 15.4% compared to May 2019. On the flip side, average days on market reported well in comparison to both the previous year and the previous month at just 64 days for May 2020. When comparing last month to April 2020, average sales price has decreased by 5.4% but total number of closed sales increased by 5.7%.
Residential MLS Stats by Area:
- Residential Properties sold in May 2020: 203
- Average Sales Price: $171,817
- Average Days on Market: 83
- Average Days on Market Change from May 2019: Decreased 13.5%
- Residential Properties sold in May 2020: 82
- Average Sales Price: $407,917
- Average Days on Market: 63
- Average Days on Market Change from May 2019: Decreased 18.2%
- Residential Properties sold in May 2020: 75
- Average Sales Price: $397,967
- Average Days on Market: 104
- Average Days on Market Change from May 2019: Increased 14.3%
- Residential Properties sold in May 2020: 217
- Average Sales Price: $304,330
- Average Days on Market: 76
- Average Days on Market Change from May 2019: Decreased 2.6%
- Residential Properties sold in May 2020: 19
- Average Sales Price: $185,188
- Average Days on Market: 34
- Average Days on Market Change from May 2019: Decreased 29.2%
About Baldwin REALTORS®
Baldwin REALTORS® is the source for real estate in Southern Alabama. We provide resources, education and tools to over 3,000 professionals across the region. We work to protect the interests of property owners, and our members serve buyers and sellers as REAL Advocates, Advisors, and Experts. Realtors agree to abide by a strict code of ethics and are held to a high ethical standard by their peers through their association membership. The term Realtor is a federally registered trademark owned by the National Association of REALTORS® and denotes membership in the Nonprofit Association.