Baldwin County's real estate landscape presents a curious paradox: while home sellers are increasingly eager to enter the market, home buyers remain hesitant.
According to the Baldwin REALTORS …
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Baldwin County's real estate landscape presents a curious paradox: while home sellers are increasingly eager to enter the market, home buyers remain hesitant.
According to the Baldwin REALTORS Multiple Listing Service (MLS), September 2024 saw a 12.4% year-over-year increase in new listings across the county, signaling a growing confidence among sellers.
However, this surge in listings comes amid a decline in closed sales and an uptick in the average days properties spend on the market. In the resort and island areas, which encompass Orange Beach, Fort Morgan and southern Gulf Shores, the average sales price plummeted by 8.7% from September 2023, settling at $620,654. The average time these properties spent on the market also rose significantly, increasing from 69 days last year to 109 days this September. Additionally, the number of closed sales in this area dropped sharply, with only 96 properties sold compared to 148 in September 2023.
In contrast, Baldwin County's traditional residential market saw a modest average sales price increase of 4.9%, reaching $407,637. Yet, this sector is not without its challenges; properties lingered on the market for an average of 69 days, which is 21 days longer than the previous year. This segment also experienced a significant drop in closed sales, with 63 fewer transactions than the same month last year.
Overall, Baldwin County's real estate market reflects a complex interplay of increasing seller activity and cautious buyer behavior. With rising inventory and fluctuating prices, both sellers and buyers are navigating a shifting landscape, making the coming months crucial for stakeholders in the region's real estate market.
