Are Buyers Indicating Real Estate Slow Down?

Purchase prices continue to set records in Baldwin County Alabama

Baldwin County April Sales Stats

Robertsdale, Ala. – (OBA) – We’re beginning to see the first signs of buyer reluctancy in the Baldwin County Housing Market. While Baldwin REALTORS® Multiple Listing Service (MLS) reports an increase in new listings for April 2022 compared with April 2021, the same cannot be said for total properties sold.

The Traditional residential area of the county saw a 4.8 percent decrease in closed sales from the year prior, and the resort area of the county saw its second month in a row of decreases in total closed sales at just 277 properties a 14 percent decrease from April 2021.

Even with these downward trending statistics, members assure us that they are still seeing multiple offers and escalation clauses when assisting sellers in this current market. Home prices have also never been higher for either area of our county.

The average sales price for the resort area of Baldwin County is the highest average we’ve seen thus far in our month-to-month reporting. December 2021’s record-breaking $663,225 has been surpassed by this past month’s average sales price of $689,312. Additionally, this area of the county saw a significant dip in days on market (DOM). Where April 2021 had an average of 50 days for listings, April 2022 saw an average of just 33 days.

The traditional residential market in Baldwin County also saw an average sales price that breaks its record, reporting at $377,707 for April 2022. They also saw a significant decrease of DOM. At just 29 days, homes are flying off the market 19.4 percent faster than the year prior.

Dee Marie Fisher