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 period ending March, 2010
Baldwin County Residential Market (Total, North, Central, South)
This snapshot view of the residential housing market is designed to provide a useful source of data and
information. We hope you find it useful. Comments are always welcome.
The average sales price in Baldwin County for March grew 5.54 percent to $215,436 while the median sales
price increased 10.06 percent to $167,500. Average sale prices in the North showed a substantial increase of
44.91 percent to $213,719, increased 2.38 percent to $180,565 in the Central area, and grew 5.28 percent to
$263,653 in the South region.
Concurrently, sales rose to 179 in the Central area, increased to 16 in the North, and grew to 130 in the South.
For the whole county, sales increased by 107 to 325.
Average days on the market for the whole county fell to 178 from 185 in February. The Central region
increased to 175, the North decreased to 189, and the South decreased from 210 in February to 181 in March.
The number of homes sold in the U.S. decreased by 33.4 percent in January. Also, the median sales price shrunk
by 3.3 percent to $164,900. The number of months required to sell the existing inventory increased to 7.8. The
National Association of Realtors recommends a 6 to 8 month range for a healthy market.
The second page shows MLS data for the three Baldwin County areas. North is north of I-10. Central is
between I-10 and the International Waterway. South is south of the Waterway. Data for the Total County are
explained above.
United States Existing Home Prices for All Housing Types
Time
Sales
Average
Sales
Price
Median
Sales Price
Inventory
Month
Supply
$172,000
Jan-09
257,000
$206,700
$164,800
9.7
$170,000
Dec-09
413,000
$218,700
$170,500
7.2
$168,000
Jan-10
275,000
$212,200
$164,900
7.8
-33.4
-3.0
-3.3
8.3
7.0
2.7
0.1
-19.6
Vs. Last
Month
(%)
Vs. Last
Year (%)
Median Sales Price
$166,000
$164,000
$162,000
$160,000
Jan-09
Dec-09
Jan-10
Data Sources: All data taken from the Baldwin Multi-List, Martha Taylor, Office: 251. 928.1708, and the National Association of
Realtors www.realtor.com. For additional information, contact Dr. Don Epley, Director, Center for Real Estate Studies, Mitchell
College of Business, University of South Alabama, Office: 251.460.6735, 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.
March 2010 Mobile County Single-Family Residential Report
Average Sales Price
$150,000
Median Sales Price
$135,000
$145,000
$130,000
$140,000
$135,000
$125,000
$130,000
$120,000
$125,000
$115,000
$120,000
$115,000
$110,000
Mar-07
Mar-08
Mar-09
Month
Ave. Sales
$
Mar-07
$147,901
Mar-08
$147,963
0.04
Mar-09
$141,826
-4.15
Feb-10
$132,580
Mar-10
$128,112
Annual 08
$153,089
Annual 09
$143,064
Feb-10
vs. Last Year
(%)
Mar-10
Mar-07
vs. Last
Month (%)
Number of Sales
500
Feb-10
vs. Last
Year (%)
Med. Sales $
Mar-07
$129,900
Mar-08
$133,000
2.39
Mar-09
$123,250
-7.33
Feb-10
$120,000
Mar-10
$118,500
Annual 08
$133,850
Annual 09
$127,000
Mar-10
vs. Last
Month (%)
-1.25
-5.12
Month's Inventory
20
400
Mar-09
Month
-3.37
-6.55
Mar-08
15
300
10
200
5
100
0
0
Mar-07
Mar-08
Mar-09
Month
# Sales
vs. Last Year
(%)
Mar-07
468
Mar-08
362
-22.65
Mar-08
9.06
70.30
Mar-09
290
-19.89
Mar-09
11.53
27.26
Feb-10
236
Mar-10
309
Annual 08
4106
Annual 09
3472
Feb-10
Mar-10
Mar-07
vs. Last
Month (%)
Mar-09
Month
Month's
Inventory
Mar-07
5.32
Feb-10
15.19
Mar-10
11.66
Annual 08
10.33
Annual 09
12.42
30.93
-15.44
Mar-08
Feb-10
vs. Last
Year (%)
Mar-10
vs. Last
Month (%)
-23.24
20.23
0-$99,999
$100,000$149,999
$150,000$199,999
$200,000$299,999
$300,000$499,999
Mar-07
145
163
67
66
21
5
Mar-08
117
103
69
47
22
4
Mar-09
100
81
56
33
17
2
Feb-10
91
72
27
38
6
2
Mar-10
118
92
51
34
12
2
Ann. 08
1248
1234
764
588
204
71
Ann. 09
1142
1090
612
450
143
34
Number
Month
Over $500K
Price Range of Sales
180
160
140
120
100
80
60
40
20
0
Mar-07
Mar-08
Mar-09
Feb-10
Mar-10
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