Christine Slaughter
Broker Associate
Realty Executives Gulf Coast
According to the Baldwin County Association of REALTORS MLS, Baldwin County condo sales, which include condos along the Gulf Coast, totaled 162 units in April. Sales improved 23.7 percent from the same period a year earlier. Year-to-date sales through April are 14.5 percent above 2014.
April sales were 32 units above the Center's monthly forecast. ACRE's year-to-date sales forecast through April projected 414 closed transactions while the actual sales were 521 units.
Baldwin County condo inventory totaled 1,032 units, a decrease of 5.9 percent from April 2014. The inventory increased by 31 units or 3.1 percent from the prior month. This direction is consistent with historical data indicating that April inventory on average ('10-'14) increases from the month of March by .6%. Condo inventory during the month of April peaked in 2006 at 3,555 units. The inventory is now down 70.9 percent from the peak. In April, the months of condo supply stood at 6.4 months, a decrease of 23.9 percent from 8.4 months last April and a far cry from April 2006 when it was 82.9 months of supply.
Condo sales increased 8.0 percent from last month. This direction is consistent with seasonal buying patterns and historical data trends that reflect April condo sales on average ('10-'14) increase from the month of March by 18.3 percent.
The Baldwin County condo median sales price in April was $268,500, a slip of 10.5 percent from last April. The median sales price was also 1.6 percent below the prior month. This direction contrast with historic data trends ('10-'14) that reflect the April median condo sales price on average increase from the month of March by 6.8 percent. The median condo sales price is 30.3 percent above the month of April bottom of $206,000 established in 2010.
Report provided by Alabama Center for Real Estate (ACRE)
