ROBERTSDALE, Alabama - December 15, 2017 – Much of the United States is experiencing an insufficient supply of existing homes, and new home construction is not meeting demand, according to a study conducted by the National Association of REALTORS® (NAR) in early 2017; however, this problem doesn’t seem to be as apparent here in Baldwin County.
According to the Baldwin County Association of REALTORS® (BCAR) Multiple Listing Service (MLS), the number of homes sold in November 2017 increased 37 units from last year: 438 in November 2017 from 401 in November 2016. The average selling price was $289,164, with an average of 98 days on the market, falling from November 2016’s 157 days. In November 2017, 2,704 units were on the market, increasing from November 2016: 2,692 units.
The number of existing properties on the market last month did decrease by a little more than 300, from 1,691 last year to 1,374 this year. Existing units of condos fell about 200 year-over-year, but the number of new construction units on the market jumped from last year’s 198 to this year’s 656.
For existing structures, condos and new construction, the average selling price rose in all three categories from November 2016. For existing properties, the average selling price rose $6,658; condo prices rose over $25,000; and new construction prices rose from $266,912 in 2016 to $269,303 in 2017.
In each category, the average days on the market fell from 158 to 81 for existing properties, 157 to 112 for condos, and 156 to 119 for new construction.
The Baldwin County Association of REALTORS® (BCAR) is a professional trade association supporting the success and advancement of over 1,700 REALTORS® in the Baldwin County area. BCAR supports members through professional education, peer networking, and MLS services. We work for the protection of private property ownership and promote the work of our members in the local community. REALTORS® are held to a high standard of conduct by their peers and the National Association of REALTORS® code of ethics.