Baldwin Residential Real Estate Center for Real Estate Studies Baldwin Multi List Go to: http://cres.southalabama.edu for more data Report for the month of March, 2012 Baldwin County Residential Market (Total, Total, North North, Eastern Shore, Central, South, Gulf Beach) Prices: The average sales price in Baldwin County for March decreased from last month by 1.54 percent, from $225,509 to $222,040. The overall median sales price also decreased 2.35 percent from $170,000 $ in February to $166,000 in March. The median edian sale price decreased in North Baldwin by 42.48 percent and Central by 8.88 percent from last month. However, in the same time period, tthe median sale pricee increased in in Eastern Shore, South Baldwin, and Gulf Beach by 0.42 percent, 4.39 percent, and 1.85 percent,, respectively. Sales: The number of sales in Baldwin County rose from 265 to 316, or 19.25 percent. Sales in North Baldwin increased 200 percent compared to February February. Sales in the Eastern Shore totaled to 98 8 sales in March, 2012, at a positive 25.64 percent change. Gulf Beach sales increased 20.75 percent, having 128 sales compared to 106 sales in February. South Baldwin sales remained the same from February to March March. From last year, the number of sales grew in North Baldwin and Gulf Beach by 20.00 percent and 17.43 percent, respectively. Days on Market: Average days on thee market for all of Baldwin County decreased from 201 in February to 179 in March, a 10.95 percent change. From last month, North Baldwin considerably rose by 57.34 percent and Gulf Beach rose slightly by 2.99 percent. Eastern Shore, Central, and South declined from February by 7.49, 24.40, and 42.73 percent, respectively. Relative to last year, North Baldwin rose 122.77 percent, but South dropped 25.44 percent. U.S.: The number of homes sold inn the U.S. decreased by 25.5 percent from December ber to January, but had a 5.3 percent increase from last year. All the measures decreased from last month month: average sales price by 4.1 percent, median sales price by 4.7 percent, cent, and inventory months supply by 6.3 percent. Overall Analysis: For the month of March March, the Baldwin residential market showed decrease creases in average sale price, median sale price, and average days on market market, compared to last month. However, the overall number of sales increased from last month by 19.25 percent percent. Compared to last year, average sale price, median sale price, and average days on market increased by 19.53 percent, 11.66 percent, and 3.47 percent,, respectively. respectively United States Existing Home Prices for All H Housing ousing Types Time Sales Average Sales Price Median Sales Price Inventory Months Supply Jan-11 247,000 $205,800 $157,900 7.7 Dec-11 349,000 $209,500 $162,200 6.4 Jan-12 260,000 $200,900 $154,600 6.0 $155,000 Vs. Last Month (%) -25.5 -4.1 -4.7 -6.3 $150,000 Vs. Last Year (%) 5.3 -2.4 -2.1 -22.1 Median Sales Price $165,000 $160,000 Jan-11 Dec-11 Dec Jan-12 Data Sources: All data taken from the Baldwin win Multi Multi-List, Martha Taylor, Office: 251.947.3777,, and the National Association of Realtors: www.realtor.com. Data gathered by: Meredith McCutchen,, Research Associate For additional information: DeWayne eWayne Cochran, MLS Coordinator, Office: 251.947.3777 or Dr. Don Epley, Director, Director Center for Real Estate Studies, Mitchell College of Business, University of South Alabama Office: 251.460.6735 or E-mail: mail: depley@usouthal.edu. University of South Alabama takes reasonable measures to ensure the quality of the data and other information produced. Howev However, er, USA makes no warranty, express or implied, nor assumes any legal liability or responsibility forr th the accuracy, correctness, or completeness of any information, nor repres resents that its use would not infringe on privately owned rights. Reference to any specific commerc ercial product, process, or service does not constitute an endorsement, recommendation, rec or favoring by USA. Baldwin County Residential For the Month of March 2012 Baldwin County Areas Total County Feb-11 % vs prv mo % vs prv year North Baldwin Feb-11 % vs prev mo % vs prev year Eastern Shore Feb-11 % vs prev mo % vs prev year Central Feb-11 % vs prev mo % vs prev year South Feb-11 % vs prev mo % vs prev year Gulf Beach Feb-11 % vs prev mo % vs prev year Average Sale Price Median Sale Price Number of Sales Average Days on Market $222,040 $166,000 316 179 $225,509 -1.54 19.53 $170,000 -2.35 11.66 265 19.25 -8.14 201 -10.95 3.47 $100,411 $134,875 -25.55 1.39 $71,500 $124,300 -42.48 -25.87 12 4 200.00 20.00 225 143 57.34 122.77 $216,264 $256,785 -15.78 6.61 $178,450 $177,700 0.42 2.12 98 78 25.64 -5.77 173 187 -7.49 8.81 $113,354 $109,010 3.98 23.46 $97,500 $107,000 -8.88 8.33 22 21 4.76 -37.14 158 209 -24.40 4.64 $129,346 $128,169 0.92 9.24 $116,000 $111,125 4.39 29.61 56 56 0.00 -34.88 126 220 -42.73 -25.44 $297,100 $280,421 5.95 13.95 $239,600 $235,250 1.85 16.88 128 106 20.75 17.43 207 201 2.99 1.47 Areas Defined as: North Eastern Shore Central South Gulf Beach Bay Minette, Stapleton, North Baldwin County Spanish Fort, Daphne, Fairhope Seminole, Loxley, Silverhill, Robertsdale, Summerdale Bon Secour, Gulf Shores N-ICW, Magnolia Springs, Foley, Lillian, Elberta Orange Beach, Gulf Shores S - ICW, Fort Morgan