Baldwin County Residential Market

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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 April, 2011
Baldwin County Residential Market
(Total, North, Eastern Shore, Central, South, Gulf Beach)
Prices: The average sales price in Baldwin County for April increased 11.88 percent to $207,392 from
$185,362 in March. The median sales price increased 4.33 percent to $156,500. Median sale prices increased in
Central by 6.37 percent, South by 35.47 percent and Gulf Beach by 6.31 percent. Median sale prices in the
North fell 7.09 percent, and Eastern Shore fell 7.09 percent in April.
Sales: Sales for the entire county rose from 343 to 363, or 5.83 percent. Gulf Beach showed a total of 139 sales,
an increase of 28.70 percent compared to March. Sales in the North decreased from 10 to 9 in April, or 10
percent. Eastern Shore decreased 0.95 percent with a change of one sale less than the number of sales in the
previous month. Central sales decreased 8.82 percent, or from 34 to 31 sales, and South decreased 6.98 percent,
dropping from 86 sales in March to 80 sales in April.
Days on Market: Average days on the market for the whole county increased from 174 in March to 197 in
April, a 13.22 percent change. North Baldwin increased by 159 to 260, by 45 to 214 in the South, by 20 to 226
in Gulf Beach, and by 3 to 162 in Eastern Shore. On the other hand, Central Baldwin decreased by 17.33
percent, or by 26 to 124 in April.
U.S.: The number of homes sold in the U.S. increased by 3.50 percent in February. The median sales price fell
1.1 percent to $156,100, and the average sales price fell to $202,300, a 1.70 percent change. The number of
months required to sell the existing inventory increased to 8.5. The National Association of Realtors
recommends a 6 to 8 month range for a healthy market.
Overall, the Baldwin residential market showed a 5.83 percent increase in sales activity, affecting price, ending
inventory, and days on the market. Significant activity happened in Gulf Beach, where sales represented 38.29
percent of total sales in all Baldwin County.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales Price
Median
Sales Price
Feb-10
300,000
$208,700
$164,600
Inventory
Months
Supply
8.4
Jan-11
285,000
$205,800
$157,900
7.5
$165,000
Feb-11
Vs. Last
Month
(%)
Vs. Last
Year (%)
295,000
$202,300
$156,100
8.5
$160,000
3.5
-1.7
-1.1
13.3
-1.7
-3.1
-5.2
1.2
Median Sales Price
$170,000
$155,000
$150,000
Feb-10
Jan-11
Feb-11
Data Sources: All data taken from the Baldwin Multi-List, Martha Taylor, Office: 251.947.3777, and the National Association of
Realtors: www.realtor.com.
For additional information: DeWayne Cochran, MLS Coordinator, Office: 251.947.3777 or Dr. Don Epley, Director, Center for
Real Estate Studies, Mitchell College of Business, University of South Alabama Office: 251.460.6735 or E-mail:
[email protected]
University of South Alabama takes reasonable measures to ensure the quality of the data and other information produced. However, USA makes no warranty, express or
implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or completeness of any information, nor represents that its use would not infringe
on privately owned rights. Reference to any specific commercial product, process, or service does not constitute an endorsement, recommendation, or favoring by USA.
Baldwin County Residential
For the Month of April 2011
Baldwin County
Areas
Total County
Mar-11
% vs prv mo
% vs prv year
North Baldwin
Mar-11
% vs prev mo
% vs prev year
Eastern Shore
Mar-11
% vs prev mo
% vs prev year
Central
Mar-11
% vs prev mo
% vs prev year
South
Mar-11
% vs prev mo
% vs prev year
Gulf Beach
Mar-11
% vs prev mo
% vs prev year
Average
Sale Price
Median
Sale Price
Number of
Sales
Average Days
on Market
$207,392
$156,500
363
197
$185,362
11.88
0.79
$150,000
4.33
-3.93
343
5.83
-0.27
174
13.22
11.93
$152,656
$93,000
9
260
$99,030
54.15
17.88
$96,450
-3.58
-21.19
10
-10.00
-30.77
101
157.43
84.40
$197,460
$162,600
104
162
$202,682
-2.58
-3.87
$175,000
-7.09
-11.63
105
-0.95
-11.11
159
1.89
-7.95
$100,874
$94,500
31
124
$90,753
11.15
-30.87
$88,838
6.37
-21.18
34
-8.82
47.62
150
-17.33
-31.49
$162,238
$121,250
80
214
$118,405
37.02
22.37
$89,500
35.47
10.23
86
-6.98
-2.44
169
26.63
24.42
$268,110
$217,000
139
226
$259,621
3.27
-0.35
$204,125
6.31
3.33
108
28.70
6.11
206
9.71
25.56
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
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