Baldwin County residential sales in July totaled 531 units, a level not experienced since 2005. Sales were 34.1 percent ahead of the same period a year ago, and this was about 19 percent above what was forecast for the month according to the Baldwin County Association of Realtors MLS.
For comparison sake, Baldwin County’s best sale record for July was in 2004 when 616 transactions were closed. Year-to-date sales through July are up 15.7 percent from 2014.
Baldwin County’s housing inventory for July was down 4.2 percent from July a year ago, while sales were up from a year ago by around 9 percent. The area’s inventory levels have declined by 56 percent from July 2007 when they were at their peak.
Baldwin County Residential Sales Increase from June Levels
Baldwin County residential sales increased 1.7 percent from June levels. This direction contrasts favorably with local historical data indicating that July sales, on average (from 2010-2014), decrease from the month of June by .6 percent.
Existing single family home sales accounted for 62% percent (down from 65% in July 2014) of total sales while 11 percent (up from 6% in July’14) were new home sales and 27 percent (down from 29% in July 2014) were condo buyers.
The Baldwin County residential sales median price in July was $216,950, an increase of 8.5 percent from last July ($200,000). The median sales price did slip 4.8 percent above the prior month. Real estate sales are seasonal and prices can very from month-to-month.
Historical data on average from 2010-2014 reflects that the July median sales price increases from the month of June by .3 percent.
Baldwin County continued as one of Alabama’s most balanced markets where buyers and sellers have equal bargaining power. If the current sales trajectory continues, sellers may soon have an enhanced edge over buyers, which is strong argument for why you need to hire an exclusive buyer’s agent to help you through the land mines if you’re considering buying real estate in Baldwin County.
It is expected that Baldwin County will continue to see strong sales, lean inventories, and rising confidence through the rest of the year, which should support increased home building activity and give an added boost to economic growth.
If you’re considering a home or condo in Baldwin County, including Gulf Shores or Orange Beach, call Malcolm Bond today. 1-866-981-4378. Malcolm Bond is known as THE Buyer Agent for all of Baldwin County, and only serves the best interest of home buyers, 100% of the time.